Moody's affirm Citycon OYJ's issuer rating; outlook stable
Rating Action: Moody's affirm Citycon OYJ's issuer rating; outlook stable. Global Credit Research- 11 Nov 2019. Stockholm, November 11, 2019-- Moody's Investors Service today affirmed Citycon OYJ's Baa3 long term issuer rating and its Baa3 senior unsecured rating.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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