Moody’s changes SBB view to positive

Moody's Investors Service said it changed the outlook to positive from stable on Samhällsbyggnadsbolaget i Norden AB's (SBB) corporate family rating.

Concurrently, Moody's affirmed the B1 corporate family rating of SBB.

“Today's rating action reflects the company's efforts to improve its liquidity profile by signing SEK 2.7 billion worth of multi-year revolving credit facilities and extending its debt maturity profile, with only 5% of bank debt and bonds coming due in 2019,” Daniel Harlid, lead analyst for SBB, said in a news release.

“At the same time, the company's financial leverage remains high at 63.5% debt/assets and we would need to see a strengthening of its balance sheet towards levels of 60% for further positive rating action.”

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