Real Estate

Our 'BBB+' issuer and issue ratings on Swedish property company Vacse AB (publ) (Vacse) are unchanged following the publication of its second-quarter results.

• Read more about NCR comments: Vacse AB (publ) Q2 2020 report

• Read more about LSTH Svenska Handelsfastigheter AB (publ)

Svenska Handelsfastigheter is a commercial property management company focusing on easily accessible retail properties with long-term, low-cyclicality tenants. Founded in 2015, The company has grown rapidly through new-builds and acquisitions. It is owned by management and board members, together with three pension funds: Fjärde AP-Fonden, Kåpan Pensionstiftelse, and Länsförsäkringar Liv Försäkrings AB.

The Nordic logistics property sector appears to have defied widespread expectations of a marked slowdown.

• Read more about Logistics property operators ride out COVID-19 downturn

• Read more about Heba Fastighets AB (publ)

Heba was founded in 1952 and has been listed since 1994, with many of the original founders' families maintaining active ownership stakes. The company primarily manages and develops residential rental properties in the greater Stockholm area. It also manages community-service properties for care of the elderly, group homes, and day care facilities in the region.

• Read more about Intea Fastigheter AB (publ)

Intea was founded in 2015 with support from pension foundations associated with, among others, Svenska Handelsbanken AB, SAAB AB and AB Volvo. The company is focused on highly specialised and purpose-built properties within the community services subsegment in Sweden. Specific markets served by Intea include the judiciary system, universities and public hospitals. Intea has chosen to avoid less-specialised community service markets such as care homes for the disabled and the elderly, nurseries, and schools, which are served by many of its peers.

Our 'BB-' long-term issuer rating for Offentliga Hus i Norden AB (publ) is unchanged following the publication of its first-quarter results.

• Read more about NCR comments: Offentliga Hus i Norden AB (publ) 2020Q1 report

Our 'BBB+' issuer and issue ratings for Svensk FastighetsFinansiering AB (publ) are unchanged following the maturity of recent bonds and the publication of first-quarter results by its owners.

• Read more about NCR comments: Svensk FastighetsFinansiering AB (publ) 2020Q1 report

Our 'BBB+' issuer and issue ratings for Vacse AB (publ) are unchanged following the publication of its first-quarter results.

• Read more about NCR comments: Vacse AB (publ) 2020Q1 report

The COVID-19 pandemic is likely to have a strong negative impact on the Nordic commercial property sector. covid-19

• Read more about COVID-19 response upends Nordic commercial property market

NCR outlines how it takes ESG factors into consideration when assessing corporates. esg

• Read more about ESG factors in corporate ratings