OBOS BBL's AND OBOS EIENDOM AS' 'BBB-' LONG-TERM ISSUER RATINGS REAFFIRMED BY NORDIC CREDIT RATING, WITH STABLE OUTLOOK

16 Jun 2025 10:00 CEST

Nordic Credit Rating (NCR) reaffirms its 'BBB-' long-term issuer rating on OBOS
BBL and OBOS Eiendom AS. The outlook is stable for both ratings. At the same
time, the 'N3' short-term issuer ratings for both companies, as well as the
'BBB-' issue ratings on OBOS BBL's senior unsecured bonds and OBOS Eiendom AS'
senior secured bonds, were also reaffirmed. OBOS Eiendom AS is 100% owned by
OBOS BBL.

The 'BBB-' rating reflects OBOS' strong market position as one of the largest
residential developers in the Nordic region, its diverse range of business,
property holdings, investment and financial activities. It also reflects OBOS’
strong balance sheet, in particular the large excess values in its land bank,
equity investments and subsidiaries. NCR takes a positive view of OBOS' ability
to generate liquidity through partial divestments and partnerships, and its
healthy covenant headroom.

The rating reports are available at:
https://nordiccreditrating.com/issuer/obos-bbl
https://nordiccreditrating.com/issuer/obos-eiendom-as

For further information, please contact:

Head of Group Finance & Treasury, SVP OBOS BBL, Joachim Heide, mob.
+47 918 62 997

More information:
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