Moodys has today assigned a first-time Baa2 long-term issuer rating toOlav Thon Eiendomsselskap ASA . The outlook of the rating is stable. Nordea has been engaged as advisor in the rating process. "Olav Thon Eiendomsselskap ASA's Baa2 rating reflects it being part of the largerOlav Thon Gruppen , with the ultimate holding company, a trust, supporting the long-term success of its investments. The rating further reflects its position as the largest shopping center operator inNorway , where it has enjoyed good operating metrics before the pandemic but also showed resilience during the pandemic. The rating is further supported by low effective leverage of well below 40% debt/assets and net debt/EBITDA below 9x", says Maria Gillholm a Moody's VP - Senior Credit Officer and lead analyst forOlav Thon Eiendomsselskap ASA . The rating is expected to further increase the group's access to financing in both the Norwegian and international capital markets. The rating report from Moody's will be published after the presentation of the Q4 report onFebruary 18 . ForOlav Thon Eiendomsselskap ASA Arne B. Sperre E.V.P Finances Tel: +47 926 97 622
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