Credit rating

Humlegården is a strong financial counterparty with the following strengths:

• Support from the strong ownership group of the Länsförsäkringar Group (A-rating).
  Humlegården is owned by 23 regional insurance companies as well as Länsförsäkringar Liv, Länsförsäkringar AB and Länsförsäkringar Fondliv, whose ownership of properties is a long-term management of insurance company assets with careful risk-taking. The assignment from the owners is to own, manage and develop their own properties in attractive office locations in the Stockholm region. The bank borrowing includes an ownership link, the so-called Change of Control clause. It gives the lender the opportunity to terminate the loan until repayment if Humlegården is not at least 90 percent owned by companies within the regional insurance group.
  
  
• High quality in the property portfolio with commercial properties in central Stockholm ensures a strong cash flow over time.
  
  
• Financial strength through:
  - Low loan-to-value ratio
  - Strong interest coverage ratio
  - Strong debt ratio