The recent capital increase has stabilised the company's financial risk profile by significantly reducing LTV and increasing interest cover, leading to a change in Outlook to Stable from Negative.

The affirmation with a Negative Outlook reflects the increased risk that credit metrics will remain below the level required for the current rating beyond 2025.

The senior secured bonds with a first-ranking pledge on the Fondbygget property are assigned a new rating of BBB. In addition, the senior secured bond with a pledge on Drammensveien 60 is assigned a new rating of BBB.