Entra ASA : Assigned Moody's Investment Grade Rating Baa1, Stable Outlook
Moody's Investors Service ("Moody's") has today assigned a first-time Baa1 long-term issuer rating to Entra ASA. The outlook on the rating is stable.
Entra ASA's Baa1 long-term issuer rating reflects (1) its position as the largest office property company in Norway, (2) its leadership position in office properties located in attractive locations on the fringe of the central business district (CBD) in Oslo, (3) its modern, high-quality NOK 43.7 bn property portfolio, (4) a clear, well-defined strategy to focus on offices in Norway's four largest cities and government tenants, (5) the large exposure towards highly creditworthy governments and public tenants with very long dated average lease maturities (7.4 years including project properties as of June 2018) and consistently high occupancy rates across all cities, and (6) good liquidity and high unencumbered asset ratio of 89.3%.
For further queries please contact: Anders Olstad, CFO, tel: +47 900 22 559, email: email@example.com
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.