S&P rates Heimstaden Bostad bonds BBB-

S&P said it assigned its preliminary BBB- long-term issuer credit rating to Heimstaden Bostad AB.

The outlook is stable.

The agency also assigned a preliminary BBB- issue rating to Heimstaden's proposed unsecured bonds.

“We consider that the company's current property portfolio will generate stable rental income, supported by high occupancy rates and favorable socio-demographic trends,” S&P said in a news release

The agency said the outlook reflects an expectation of continued favorable demand for midsize residential apartments in most of Heimstaden's markets, where population is growing and new supply remains moderate.

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