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S&P rates Storskogen Group BB+
S&P said it gave Storskogen Group AB a BB+ issuer rating.
“Storskogen's strategy to date has been largely to expand via mergers and acquisitions (M&A), funded by a mix of debt and equity. The company was recently listed, raising more than Swedish krona (SEK) 7 billion via newly issued shares during 2021 to support the continued pace of acquisitions. M&A spending in 2021 was four times that in 2020, and we expect it will be almost one and a half times the 2021 level in 2022.
“In addition, the company raised bonds amounting to SEK 2 billion within its framework of SEK 5 billion during 2021, with a further SEK 1 billion raised in early 2022. We expect that Storskogen will remain within its stated financial policy of 2x-3x leverage, while continuing to fund M&A with a mix of debt and equity,” S&P said in a press release.
At this time, Storkskogen’s debt is not rated by S&P.
The outlook is stable.
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