Moody's credit rating

On 1 November 2023 Moody's Investors Service ("Moody's") changed Entra´s long-term issuer rating to the Investment Grade rating of Baa3, and the outlook was changed to stable. 

"The rating action balances weakening credit metrics in particular due to rising interest costs with good rental growth, a solid liquidity profile and limited short term debt maturities", said Maria Gillholm, Moody's Lead Analyst for Entra.

"The stable outlook factors in the expectation of cash preserving measures and the likelihood of further asset disposals, which should strengthen liquidity further and improve effective leverage", added Ms. Gillholm.

"The changed issuer rating does not affect the interest rate on debt for existing loan facilities. We are pleased to see that Moody's in its rationale highlights Entra's superior asset quality and our modern and high-quality office property in attractive locations. The stable outlook for the Investment Grade rating also reflects Entra's tenant base consisting of mostly government and public tenants with long dated average lease terms and consistently high occupancy rates", said Sonja Horn, CEO in Entra. 

Green Financing

A sustainable portfolio and disciplined portfolio management are key to long-term value creation and resilient financial performance, supporting access to capital on competitive terms and underpinning portfolio valuation.

As an early adopter of practices for the development, upgrading and operation of green buildings, Entra is well positioned to access green bank and bond financing. 

Entra’s Green Financing Framework is based on key EU Taxonomy criteria. An independent Second Party Opinion from S&P Global Ratings has assigned a Medium Green shading to the framework.

Entra has appointed an external, independent auditor to provide annual assurance that the selection of eligible assets and the allocation of net proceeds are carried out in accordance with the framework.