Moody's Ratings affirms Citycon's Ba1 ratings; outlook negative
Moody's Ratings (Moody's) has today affirmed the long term corporate family rating (CFR) of Ba1 for Citycon OYJ ("Citycon") and its junior subordinated notes at Ba3. The backed senior unsecured MTN programme of (P)Ba1 and the backed senior unsecured bonds of Ba1 of Citycon Treasury B.V. have also be...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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