It Happened the Way it Had To

The news is not entirely unexpected, as this company became a case for RATING_©REPAIR some time ago (see here). Samhällsbyggnadsbolaget i Norden AB (publ) (SBB) is now taking measures to prevent the credit rating from slipping after all.

Now the company is selling two properties in Norrtälje for an agreed property value of approximately SEK 150 million to the real estate company Genova. The properties that are sold are mixed properties containing a practical high school and light industry / warehouse. The properties have an estimated net operating income of approximately SEK 7.2 million, says the company, the average remaining contract period is approximately 4.3 years.

“Our main focus is to achieve a higher credit rating and this sale of non-core holdings in line with book values ​​further contributes to our opportunities to strengthen the balance sheet,” says Oscar Lekander, Vice President and Chief Operating Officer, Samhällsbyggnadsbolaget i Norden AB.