1.11.2023 08:12:48 CET | Entra ASA | Additional regulated information required
to be disclosed under the laws of a member state
Moody's Investors Service ("Moody's") has changed Entra´s long-term issuer
rating to the Investment Grade rating of Baa3, and the outlook is changed to
stable.
"The rating action balances weakening credit metrics in particular due to rising
interest costs with good rental growth, a solid liquidity profile and limited
short term debt maturities", says Maria Gillholm, Moody's Lead Analyst for
Entra. "The stable outlook factors in the expectation of cash preserving
measures and the likelihood of further asset disposals, which should strengthen
liquidity further and improve effective leverage", adds Ms. Gillholm.
"The changed issuer rating does not affect the interest rate on debt for
existing loan facilities. We are pleased to see that Moody's in its rationale
highlights Entra's superior asset quality and our modern and high-quality office
property in attractive locations. The Stable outlook for the Investment Grade
rating also reflects Entra's tenant base consisting of mostly government and
public tenants with long dated average lease terms and consistently high
occupancy rates", says Sonja Horn, CEO in Entra.
DISCLOSURE REGULATION
This information is subject to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.
CONTACTS
* Anders Olstad, CFO, +47 900 22 559, ao@entra.no
ABOUT ENTRA ASA
Entra is a leading owner, manager and developer of office properties in Norway.
Entra owns and manages around 100 properties totalling approximately 1.6 million
square meters, located in Oslo and the surrounding region, Bergen and Trondheim.
Entra has a solid customer portfolio with a high proportion of public tenants.
The company's strategy is focused on delivering profitable growth, high customer
satisfaction and environmental leadership
ATTACHMENTS
Download announcement as PDF.pdf -
https://kommunikasjon.ntb.no/ir-files/16126567/2713/3801/Download%20announcement
%20as%20PDF.pdf