Moody’s affirms Vasakronan’s rating of A3, stable outlook

Vasakronan is Sweden’s largest property company with 174 high-quality centrally located properties in the growth regions of Stockholm, Uppsala, Gothenburg and Malmö. The majority of the properties, two thirds, are located in Stockholm, and a quarter of the company’s total lease portfolio comprises stable public sector tenants.

Vasakronan is one of the largest issuers in the Swedish and Norwegian capital markets. The company’s financial objective is to have as diversified a financing structure as possible, in terms of tenors and sources of funding. Since the rating was acquired two years ago, financing activities have broadened further toward new bond investors in Europe and Asia.

As of 31 March 2020, Vasakronan’s total liabilities amounted to SEK 70 billion, of which SEK 44 billion comprised unsecured bonds in SEK, NOK, EUR, USD, AUD and JPY. Of the bonds, slightly more than 70% pertained to green bonds.

Click here to access Moody’s Vasakronan Credit Opinion.