Stock exchange releases
Stock exchange release 30 May 2017 at 1.40 PM
Kojamo plc receives investment grade rating from Moody’s
Moody’s Investor Service has today issued a long-term issuer rating of Baa2 with a stable outlook for Kojamo plc.
The rating reflects Moody’s view of Kojamo’s high-quality housing portfolio in Finland’s growth centres, a stable cash flow and a high financial occupancy rate. Additionally, the issuer rating reflects the strong real estate market and the good demand for Kojamo’s apartments.
Kojamo’s CEO Jani Nieminen:
“Our strategic goal is to increase the value of the company’s residential property portfolio from the current level of approximately EUR 4.3 billion to at least EUR 5.8 billion by the end of 2021. The investment grade rating and the diversification of our financing structure support our growth.”
Kojamo’s CFO Erik Hjelt
“A public credit rating gives us the opportunity to take advantage of the international financial markets more extensively, which in turn supports the broadening of the company’s financing base. The objective of the company is to increase the share of unsecured financing in stages.”
The company has released the rating process 30 May 2017 at 1.30 PM.
Jani Nieminen, CEO, tel. +358 20 508 3201
Erik Hjelt, CFO, tel. +358 20 508 3225
Kojamo plc focuses on real estate investments in Finland, renewing rental housing in order to make it increasingly attractive. The company develops Lumo homes and services that promote work-related mobility in the urbanising Finland, increase well-being and protect the environment. Over the past five years, the Group has invested nearly EUR 1.5 billion in commercial rental housing.