| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers H > Headlines for Heimstaden Bostad AB > News item |
Fitch changes Heimstaden view
Fitch Ratings said it revised Heimstaden AB's outlook to negative from stable, while affirming the holding company's long-term issuer default rating at BB+.
The action mirrors that of subsidiary Heimstaden Bostad AB (BBB issuer default rating; negative outlook), partly due to its increased leverage and its linkage, Fitch said.
“We expect incremental leverage at Heimstaden AB (above Heimstaden Bostad's gross debt/EBITDA) to narrow towards 3x in 2023 (around 27.9x and 24.4x respectively, after reversing the hybrid benefit to Heimstaden Bostad's ratio which does not apply to Heimstaden AB's creditors) and less than 3x in 2024,” Fitch said in a news release.
“This is driven by the disposal of the country management organisation to, and its various cash flows from, Heimstaden Bostad including its ordinary dividends.”
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.