S&P upgrades Akelius

S&P said it raised its long- and short-term corporate credit ratings on Akelius Residential Property AB to BBB/A-2 from BBB-/A-3.

The outlook is stable.

The Nordic regional scale rating was raised to K-2 from K-3.

The agency also raised the issue ratings on Akelius' senior unsecured debt to BBB from BBB-.

Through active disposals in 2016 and 2017, repayment of a loan to the parent company and positive asset revaluation, Akelius reduced its leverage more than anticipated, S&P said in a news release.

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