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Credit standing company Moody’s has lowered the long-term ranking of actual property firm Entra to Baa3 and the outlook has been adjusted to secure. Baa3 remains to be an funding grade ranking.
– The ranking modifications weakened credit score calculations, primarily as a result of rising curiosity prices, with good rental progress, a strong liquidity profile and restricted short-term debt maturities, Moody’s analyst Maria Gollholm mentioned in a word.
– The secure outlook implies expectations of cash-saving measures and the chance of additional asset gross sales, which ought to additional strengthen liquidity and enhance efficient debt ranges, she says.
That is the second credit score downgrade Entra has acquired from Moody’s this yr. In Could, Moody’s downgraded the ranking from Baa1 to Baa2 with a detrimental outlook.
In keeping with Entra supervisor Sonja Horn, the change has no affect on the curiosity on current loans.
– We’re happy to see that in Entra’s rationale, Moody’s highlights the robust high quality of its property and our trendy and high-quality industrial actual property in engaging areas, she says.(Circumstances)Copyright Dagens Næringsliv AS and/or our suppliers. We wish you to share our instances by way of hyperlinks that lead on to our pages. Copying or different use of all or a part of the contents might solely be made with written permission or as permitted by regulation. For additional circumstances see right here.
The article continues beneath the commercialMoody’s downgrades Entra’s credit standing once more
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