Real Estate
Major Stockholm Landlord Cut Two More Steps Into Junk Territory
- Moody’s lowers its rating on FastPartner to Ba3 from Ba1
- Interest rates, asset values and debt costs drive rating move
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One of the biggest office landlords in Sweden’s capital has seen its junk credit rating lowered a further two steps by Moody’s Investors Service with a warning that further downgrades could be on the way.
Stockholm-based FastPartner AB’s corporate family rating was cut to Ba3 from Ba1 and its outlook was revised to negative from ratings under review, according to a statement by Moody’s after market close on Tuesday.