While we view Hemsö Fastighets AB's owner, Tredje AP Fonden, as part of Sweden's public sector, we consider Hemsö's mission is to maximize profit rather than provide a public service. It is therefore no longer appropriate to apply in our credit assessment of the real estate company the updated "Methodology For Rating Public And Nonprofit Social Housing Providers," published June 1, 2021. Consequently, we placed our 'A-/A-2' and 'K-1' ratings on Hemsö on CreditWatch with negative implications. We aim to resolve the CreditWatch placement within 90 days. On June 3, 2021, S&P Global Ratings placed on CreditWatch with negative implications its 'A-/A-2' long- and short-term issuer credit ratings and 'K-1' short-term Nordic regional scale rating on Swedish housing real estate
