Fabege has today received an investment grade credit rating of Baa3, with a stable outlook, from Moody’s.
Fabege has been active on the capital market for many years via commercial paper, covered bonds (via Svenska Fastighetsfinansiering) and through a green unsecured MTN programme. At 31 December 2017, total financing via bonds and commercial paper amounted to just over SEK 10bn. The framework for Fabege’s green MTN programme is SEK 5bn and outstanding bonds under the programme amounted to SEK 2.7bn at year-end.
“Our ambition is to increase the proportion of capital market financing primarily via our green bond programme. The credit rating from Moody’s puts us in a better position for seeking financing on favourable terms,” said Åsa Lind, Head of Treasury at Fabege.
“We’ve now taken the next step in our financial profiling. Fabege is keen to make investors aware of our high quality and our long-term approach. We’re delighted to have received this acknowledgement of the company’s financial stability via the rating from Moody’s,” commented Åsa Bergström, Vice President and CFO at Fabege.
Fabege AB (publ)