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SATO starts forming its secured funding structure towards mainly unsecured financing base

Moody’s Investor Service has today assigned SATO Corporation a first-time, long-term issuer credit rating of Baa3 with a stable outlook.

The assigned rating reflects Moody’s view of the company’s competent management of a good quality, well-located residential property portfolio that produces steady cash flows, which are generated by a granular tenant base and underpinned by consistently high occupancy rates.
Erkka Valkila, CEO of SATO:

– SATO’s strategic goal is to increase the value of the investment portfolio from current €2.6 billion to at least €4 billion by the end of 2020. Achieving an investment grade credit rating and forming a diverse funding structure support SATO’s growth ambitions.

Esa Neuvonen, CFO of SATO:

– Public credit rating enables the utilization of international financial markets, which increases flexibility and efficiency in financial arrangements. The rating also supports our aim for gradually increasing the portion of unsecured financing.  Diversified sources of funding help us to maintain financing costs on a competitive level.
Moody’s rating report on SATO can be found from here:
https://www.moodys.com/research/Moodys-assigns-Baa3-rating-to-Sato-Oyj-stable-outlook–PR_324928

Category: Business