Swedish Landlord SBB Cut Further Into Junk Territory by Fitch

Struggling Swedish landlord SBB has received yet another credit rating downgrade in a move that will exacerbate the company’s challenge of refinancing about $1.3 billion of bond debt between now and 2025.

Fitch Ratings lowered its long-term default rating on Samhallsbyggnadsbolaget i Norden AB — as the company is officially known — one step to CCC+, which matches the assessment from July by S&P Global Ratings.