Standard & Poor’s reaffirmed SATO Corporation's BBB credit rating but at the same time revised the outlook to negative
17 November 2022
SATO Corporation
Stock Exchange Release, 17th November 2022 at 6:30 pm
The credit rating agency Standard & Poor’s has affirmed SATO Corporation's BBB credit rating, but at the same time revised the rating outlook to negative from stable. The revise in the outlook is a direct consequence of the weakening of the outlook for the corresponding rating of Fastighets AB Balder, SATO's main owner, which reflects increased risk and some uncertainty regarding the refinancing of credit maturities.
Further information:
CFO Markku Honkasalo, tel. +358 201 34 4226
DISTRIBUTION: NASDAQ Helsinki Ltd, Euronext Dublin, main media, www.sato.fi
SATO Corporation is an expert in sustainable rental housing and one of Finland’s largest rental housing providers. SATO owns around 25,000 rental homes in the Helsinki Metropolitan Area, Tampere and Turku.
SATO aims to provide an excellent customer experience and a comprehensive range of urban rental housing alternatives with good access to public transport and services. We promote sustainable development and work in open interaction with our stakeholders. SATO invests profitably, sustainably and with a long-term view. We increase the value of our assets through investments, divestments and repairs.
In 2021, SATO Group’s net sales totalled EUR 298.3 million, operating profit EUR 304.5 million and profit before taxes EUR 259.4 million. The value of SATO’s investment properties is around EUR 5 billion. www.sato.fi