Moody's rates Rikshem bond A3

Moody's Investors Service said it gave an A3 senior unsecured instrument rating to Rikshem AB's new A$30 million senior unsecured bond.

The rating is in line with Rikshem's long-term issuer rating of A3, the agency said.

“Through the Australian-dollar bond Rikshem is further diversifying its funding markets in addition to its outstanding bonds in several different currencies, which is credit positive. Moody's has affirmed the issuer rating, which reflects Rikshem's strong position in the Swedish real estate market in combination with strong supportive owners, solid operating metrics, improving leverage and net debt to EBITDA,” said Maria Gillholm, a Moody’s vice president and senior credit officer, in a press release.

The outlook remains stable.

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