We expect Sundsvall will limit debt growth in 2019 through either the sale or liquidation of its 50% share in Kommungaranti Skandinavien Försäkrings AB, the municipality's part-owned insurance company. Sundsvall's strong liquidity position and strong management efficiently offset the risk of increasing debt. We are affirming our 'AA+/A-1+' and 'K-1' ratings on Sundsvall. The outlook is stable. On March 22, 2019, S&P Global Ratings affirmed its 'AA+' long-term and 'A-1+' short-term issuer credit ratings on the Swedish municipality of Sundsvall. The outlook is stable. At the same time, we affirmed our 'K-1' short-term Nordic regional scale rating on Sundsvall. The stable outlook reflects our expectation that Sundsvall will mitigate its rising debt levels by continuing to diligently manage liquidity and
