Kungsleden has been upgraded to Investment Grade with a stable outlook by Moody´s. An Investment Grade rating increases the opportunity to achieve even lower cost of capital and to reduce refinancing risk.
”The purposeful work during the last years to increase the overall quality of the property portfolio and by focusing on the strongest rental markets combined with the gradually strengthening of Kungsleden's financial position, has resulted in the fullfilment of the requirements for an Investment Grade company. The upgrade will give us even better opportunities to broaden the investor base, enjoy even more favourable financing terms and secure long term financing”, says Kungsleden's CEO, Biljana Pehrsson.
During the recent years Kungsleden has increased its borrowing from the capital market and thereby broadened its funding sources. Kungsleden currently has an outstanding volume of SEK 6.5 billion under the unsecured MTN-program (Medium Term Note) with a frame of SEK 8 billion. In addition, there is a commercial paper program with a frame of SEK 2 billion.
Link to Moody’s press release: https://www.moodys.com/research/Moodys-upgrades-Kungsleden-to-Baa3-from-Ba1-outlook-stable--PR_403376
Stockholm, 20 06 2019
Kungsleden AB (publ)Regulatory
For more information, please contact:
Biljana Pehrsson, CEO Kungsleden | +46 8 503 052 04 | email@example.com
Magnus Jacobson, CFO Kungsleden | +46 8 503 052 62| firstname.lastname@example.org
Detta pressmeddelande finns tillgängligt på svenska på www.kungsleden.se/en/media/press-releases
This information is information that Kungsleden AB (publ) is obliged to make public pursuant to the Securities Markets Act. The information was submitted for publication, through the agency of the contact person set out above, at 7:30 am CET on June 20, 2019.
Kungsleden is a long-term property-owner, and our vision is to create attractive and sustainable places that enrich people’s working days. We create value by owning, managing and developing offices and other commercial properties in Stockholm and Sweden’s other growth regions. A large portion of our properties belong to attractively located clusters where we also engage in the development of the whole area. Kungsleden’s goal is to deliver an attractive total return on our properties and for our shareholders. Kungsleden is listed on NASDAQ Nordic Large Cap.