Citycon has two investment grade credit ratings.

Standard & Poor's
Long-term corporate credit rating: BBB
Outlook: Stable
Since: 10 May 2013
Last upgrade: 9 July 2014
S&P's latest report: S&P Credit Opinion Update 29 May 2017

"S&P Global Ratings' stable outlook on Finland-based retail property investment company Citycon Oyj reflects our view of the company's resilient income from its retail property portfolio in Sweden and the growing share of its Norway-based assets. We think income from Sweden and Norway will likely enable the company to cope with weakening demand in Finland and the Baltics. We believe the company should maintain ratios of EBITDA interest coverage above 2.5x and debt to debt plus equity lower than 50% as part of its funding policy and disposals."

Long-term corporate credit rating: Baa1
Outlook: Stable
Since: 16 May 2013
Last upgrade: 15 January 2016
Moody's latest report: Moody's Credit Opinion Update 2 December 2016

"Citycon's Baa1 long term issuer rating primarily reflects (i) the high quality of its shopping centre portfolio and the company's good franchise value in the Nordics, (ii) its excellent geographic exposure to three strong economies in the Nordic region, good industry diversification and moderate tenant concentration, (iii) a moderate development pipeline, (iv) a good and further improving fixed charge coverage, (v) solid liquidity underpinned by a fully unencumbered asset bases and (vi) good access to capital despite presence of a dominant stakeholder."