Citycon has two investment grade credit ratings.

Rating agency Long-term corporate credit rating 
Outlook Since Latest change in rating Latest report
Standard & Poor's
BBB- Negative  10 May 2013
25 September 2019 SP Credit Opinion Update 25 September 2019
Baa3 Stable 16 May 2013 29 April 2019 Moody's Credit Opinion Update 29 April 2019

Standard & Poor's

” The outlook revision reflects our view of increasing risks to the company's operating performance and financial risk profile, due to challenging market conditions. We believe Citycon's credit metrics may weaken toward the low end of the range commensurate with the ratings over the next 12-24 months. This is due to ongoing soft trading conditions, increasing yields in the Nordic retail sector, and uncertainties regarding planned asset disposals.”

“That said, we still regard Citycon's business risk profile as satisfactory and note that leasing spreads are improving, particularly in Sweden and Norway. Also, in our view, Citycon's efforts to strengthen asset management has led to a more diverse client base than several peers'. We continue to believe that Citycon's focus on redeveloping and extending its largest shopping centers should enhance its business risk profile over the medium term. This is because well-located retail assets with high footfall generate more sustainable demand from retailers.”

“Citycon´s Baa3 long-term issuer rating primarily reflects: 1) the company's focus on necessity-driven retail, services and entertainment; 2) a significant proportion (54% of sales) of retail properties in strong and growing suburban metropolitan areas with attractive multiple forms of public transportation; 3) the geographic diversification of its property portfolio across highly rated countries including Finland, Norway and Sweden; 4) top-three market positions and franchise value in the Nordics shopping centre market; and 5) high unencumbered asset base and a diverse funding mix and consistently high occupancy above 96%.”