Market fundamentals in Göteborg remain strong. Important population growth and housing shortage limits vacancy risk in Framtiden's property portfolio. Framtiden's long-term strategies remain firm, focusing on providing the growing population with rental housing. After years of sluggish new construction, there are now indications that it will pick up. Framtiden's large portfolio of ongoing projects, combined with an improving construction sector, is likely to push up investments. As a result, Framtiden's debt burden is set to increase moderately throughout our forecast period. The stable outlook indicates that, despite a rising debt burden, S&P Global Ratings expects Framtiden's management will stick to its financial policy and strengthen its financial performance over the next two years. We do not foresee any changes in
