Castellum Obtains Higher Credit Rating From Moody's

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Jun 05, 2019, 09:56 ET

GÖTEBORG, Sweden, June 5, 2019 /PRNewswire/ -- Effective today, Castellum has been assigned an upgraded investment-grade rating, to Baa2 stable outlook, from Moody's Investors Service. The new rating is based on the company's strong property portfolio and financial performance.

As of today, Castellum has an outstanding loan volume of SEK 17.8 billion under its unsecured MTN-program (Medium Term Notes), within a program size of SEK 20 billion. Moreover, Castellum has an outstanding loan volume equivalent to approx. 585 million euros under an unsecured EMTN-program (Euro Medium Term Notes), within a program size of 2 billion euros.

"To obtain a higher credit rating is very valuable for Castellum. It proves that what we are doing keeps us on the right track from both a financial and a business perspective. The fact that the market shows faith in Castellum is a prerequisite for future investments. At the same time, the enhanced credit rating creates opportunities that we require to maintain strong economic flexibility, along with the possibility to expand our investor base nationally as well as internationally," says Ulrika Danielsson, CFO at Castellum.

Castellum is one of the largest listed real estate companies in Sweden. Property values amount to SEK 89.2 billion and holdings comprise office, warehousing/logistics and public sector properties, covering a total leasable area of 4.2 million square metres.

The real estate portfolio is owned and managed under the Castellum brand through a decentralized organization with strong and clear local presence in 20 cities in Sweden and also in Copenhagen and Helsinki.

In 2018, Castellum received two awards for sustainability efforts; designated Number One in the world by GRESB for the offices-and-logistics sector, as well as the Level Gold award for sustainability reporting from the EPRA (European Public Real Estate Association). In addition, Castellum is the only Nordic real-estate and construction company elected to the Dow Jones Sustainability Index (DJSI), joining a select group of companies in the world who perform best on sustainability issues. The Castellum share is listed on Nasdaq Stockholm Large Cap. For further information visit www.castellum.com.

For further information, contact:
Ulrika Danielsson, CFO, Castellum AB, +46 (0)706-47 12 61
Krister Kylås, Head of Treasury Castellum AB, +46 (0) 725-55 55 07

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Press release 190605

SOURCE Castellum