Moody`s affirms the positive outlook for Kungsleden to be upgraded to Investment Grade. An Investment Grade rating further improves the ability to achieve even lower cost of capital and to reduce refinancing risk.
"The targeted work to create a property portfolio of high quality in our strongest rental markets together with gradually strengthening the financial position of Kungsleden have contributed to Kungsleden now fulfilling the requirements for an Investment Grade- company. Moody`s has chosen to retain our current rating Ba1 with a positive outlook with reference to their assessment that the uncertainty of the future market situation has increased. However, we think that the Swedish property market remains positive. We feel confident that we have high quality properties in good locations and customer offers that are in demand in cyclical upturns as well as downturns ", says Kungsleden´s CEO Biljana Pehrsson.
During the recent years Kungsleden has increased its borrowing from the capital market and thereby broadend its funding sources. Kungsleden currently has an outstanding volume of SEK 6 billion under the unsecured MTN- programme (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.
Moody`s press release can be found here: https://www.moodys.com/credit-ratings/Kungsleden-AB-credit-rating-823756075
Kungsleden AB (publ)
For more information, please contact:
Biljana Pehrsson, CEO Kungsleden | +46 8 503 052 04 |
Magnus Jacobson, CFO Kungsleden | +46 8 503 052 62|Regulatory
Detta pressmeddelande finns tillgängligt på svenska på www.kungsleden.se/pressmeddelanden
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 8:15 a.m CET on 21 March, 2019.
Kungsleden is a long-term property-owner that provides attractive, functional premises 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.