COPENHAGEN (Reuters) – Moody’s said on Tuesday it had downgraded Swedish real estate company Fastpartner’s corporate family credit rating (CFR) to B1 from Ba3, and kept a negative outlook on the property group.
Debt rated Ba are estimated to be speculative and are subject to substantial credit risk, according to Moody’s.
CFRs are long-term ratings designed to indicate how likely Moody’s considers a corporate family’s debt and debt-like obligations to default, reflecting the expected financial loss in the event of default, according to the agency.
(Reporting by Louise Breusch Rasmussen, editing by Terje Solsvik)