Moody’s Investors Service has upgraded Citycon’s investment grade level long-term corporate credit rating to Baa1. The outlook is stable. The previous rating was Baa2 with a stable outlook.
The rating was upgraded mainly due to Citycon’s improved business profile following the acquisition and integration of Norwegian Sektor Gruppen that increased the scale, improved the geographical diversification and reduced the tenant concentration risk of the company.
Moody’s press release is attached to this release.
Helsinki, 15 January 2016
CITYCON OYJ
For further information, please contact:
Eero Sihvonen, Executive Vice President and CFO
Tel. +358 20 766 4459 or +358 50 557 9137
eero.sihvonen@citycon.com
Citycon Oyj (Nasdaq Helsinki: CTY1S) is a leading owner, developer and manager of urban grocery-anchored shopping centres in the Nordic and Baltic regions, managing assets that total close to EUR 5 billion and with market capitalisation of approximately EUR 2 billion. For more information about Citycon, please visit www.citycon.com
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