Heimstaden Bostad - comment

Heimstaden Bostad continues to see strong momentum in its occupancy and rental growth, resulting in a 1% increase in property values. LTM Net operating income improved to 71%, which is at the upper end of the guidance, and although the Company did not increase guidance at Q1, it outlined that there is potential following Q2 numbers. Ratings continue to be the main focus, with LTV at 56% and ICR at 1.6x. (S&P defined). Asset sales via privatisation and other transactions continued in the quarter, with further expected for the remainder of the year to improve the ICR ratio back to 1.8x.