Citycon OYJ: Citycon's leverage remains at the high end of the expected range in 2016, a credit negative
CORPORATES ISSUER COMMENT 13 February 2017 Analyst Contacts Roberto Pozzi 4420-7772-1030 VP-Sr Credit Officer [email protected] Ramzi Kattan 44-20-7772-1090 VP - Senior Analyst [email protected] Yulia Syerova 44-20-7772-1075 Associate Analyst [email protected] Mario Santangelo 44-20-7772-8623 Associate Managing Director [email protected]Citycon is an active owner, operator and developer of shopping centers. Co. aims to increase its net yield from shopping centers over the long term through active retail property management and systematic redevelopment efforts. Co. is involved in the day-to-day operations of its shopping centers. As of Dec. 31, 2011, Co. owned a total of 36 shoppings centers: 23 in Finland, 9 in Sweden, 3 in Estonia, and one in Lithuania. Co. also owns 43 other retail properties: 36 in Finland and 7 in Sweden and one undeveloped lot in Finland. Co. manages two commercial shopping centers in Finland.
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