Sweden’s Real Estate Woes Deepen as Top Landlord Conserves Cash
- SBB’s postpones dividend after rating downgraded to junk
- Planned share sale became untenable after stock’s plunge
This article is for subscribers only.
Sweden’s property crisis worsened after one of the country’s biggest commercial landlords took steps to conserve cash and put its focus on selling assets to plug a funding gap.
SBB postponed a dividend and scrapped plans to sell shares in the wake of a credit rating downgrade to junk. Like many other Swedish property companies, the landlord — formally named Samhallsbyggnadsbolaget i Norden AB — is scrambling to refinance debt, but higher interest rates and investor concerns have closed off many options.