The affirmed rating and revised Outlook are driven by the rating harmonisation with parent company Corem Property Group and its prudent efforts amid adverse market conditions to deleverage. The rating is subsequently withdrawn for business reasons.

The rating affirmation is mainly driven by the strong business risk profile exemplified by the company’s market position in Sweden, while balance sheet management through disposals and debt repayments is helping to safeguard credit metrics.

The ratings are mainly driven by Corem Kelly’s strong business risk profile, exemplified by its market position in Sweden.

The monitoring review resulted in no action on the BBB-/Stable issuer rating of the Swedish property company.

The assigned rating is driven by the company’s well-diversified property portfolio in liquid locations, its good position in core markets, and good tenant-industry diversification leading to more stable and predictable cash flows.