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Citycon Oyj : S&P downgrades Citycon’s credit rating as a result of increased ownership by G City
Citycon Oyj : S&P downgrades Citycon’s credit rating as a result of increased ownership by G
About this update from Citycon Oyj
CITYCON OYJ Investor News 12 March 2026 at 17:00 hrs On 12 March 2026 S&P Global Ratings (S&P) downgraded Citycon's credit rating after G City increased its ownership in Citycon following the mandatory tender offer. S&P continues to view Citycon as an insulated subsidiary, with funding and operations independent from the group. Citycon's issuer credit rating has been downgraded to 'B' from 'B+' and the issue rating on Citycon's unsecured notes (bonds) to 'B+' from 'BB-'. Due to the sound operational performance and adequate liquidity the stand-alone credit profile of Citycon remains at 'BB-'. Citycon reported a strong financial performance for 2025, marked by consistent growth in like-for-like net rental income, tenant sales and footfall, as well as retail economic occupancy rate above 95%. Also, S&P highlighted Citycon's solid operational results in 2025. CITYCON OYJ For further information, please contact: Hilik Attias CFO Tel. +358 40 688 8580 [email protected] Anni Torkko Investor Relations Manager Tel. +358 45 358 0570 [email protected] Citycon is a leading owner, manager and developer of mixed-use real estate featuring modern, necessity-based retail with residential, office and municipal service spaces that enhance the communities in which they operate. Citycon is committed to sustainable property management in the Nordic region with assets that total approximately EUR 3.8 billion. Our centres are located in urban hubs in the heart of vibrant communities with direct connections to public transport and anchored by grocery, healthcare and other services that cater to the everyday needs of customers. Citycon's shares are listed on Nasdaq Helsinki Ltd. www.citycon.com Share FacebookTwitterLinkedIn