Nordic Credit Rating (NCR) said today that Vacse's 'BBB+' issuer and issue ratings are unchanged following an announcement that its subordinated shareholder loans have been converted to equity. NCR already treated the shareholder loans as equity in its initial rating assessment and hence today's announcement has no effect on credit metrics, nor ratings. We understand that Vacse has converted the loans to equity in order to improve the market's perception of their balance sheet and capital strength.
For more information, please refer to the full rating report here.
Contact details:
Michael Andersson, +46 732 32 43 22, michael.andersson@nordiccreditrating.com
Mille O. Fjeldstad, +47 99 03 89 16, mille.fjeldstad@nordiccreditrating.com