Hemsö continues its strategy of building a portfolio of high-quality properties for core tax-financed public service operations in Sweden, Finland, and Germany. In third-quarter 2020, Hemsö received another capital injection from its owners to allow for continued expansion while simultaneously strengthening the company's capital structure in line with updated financial policies. Furthermore, to date the spread of COVID-19 has had a limited impact on Hemsö's financial position. We are affirming our 'A-/A-2' and 'K-1' ratings on Hemsö. The stable outlook reflects our view that Hemsö will continue its strong financial performance and contain debt buildup, mitigating risks associated with its expansion over the next 24 months. On March 24, 2021, S&P Global Ratings affirmed its 'A-/A-2' long- and short-term issuer
