OSLO, NORWAY: Fitch Ratings has initiated coverage of Heimstaden Bostad and assigned an investment grade rating of ‘BBB’ with stable outlook.The rating takes into consideration Heimstaden Bostad’s recently announced acquisition of Akelius’ German, Swedish and Danish residential properties and operations.

Key attributes highlighted by Fitch include:

• Strong position as one of the leading residential property companies in Europe with large scale exposure to high-quality, residential assets.
• Broad geographic footprint across markets with favourable fundamentals.
• Diversified exposure to regulatory regimes, economic and demographic trends.
• Positive and complementary addition of high-quality Akelius portfolios.

“This investment grade rating reflects Heimstaden Bostad’s strong position as one of Europe’s leading and most diversified residential real estate companies’ and is a positive confirmation of our long-term strategy and financial stability,” said Heimstaden CFO, Arve Regland.

Heimstaden Bostad is a leading European residential real estate company that buys, develops, and manages homes. www.heimstadenbostad.com