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Swedish landlord SBB rules out state support as finances deteriorate

Swedish property group SBB on Friday ruled out state support as it sought to repair its battered finances, marred by a heavy loss and dwindling liquidity. The $13 billion group, which.

Swedish landlord SBB rules out state support as cash dwindles

Swedish landlord SBB rules out state support as cash dwindles
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How the property crash unravelled Sweden s SBB

How the property crash unravelled Sweden s SBB
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Swedish landlord SBB rules out state support as cash dwindles, ET RealEstate

SBB: The $13 billion group, which owns swathes of property across Sweden including hospitals and schools, racked up a pre-tax loss of 11.1 billion Swedish crowns ($1.09 billion) in the second quarter, while its cash reserves shrank.

Analysis-Fall from grace: How the property crash unravelled Sweden s SBB

For hundreds of thousands of ordinary Swedes, investing in one of their country's biggest landlords SBB was a sure bet for years. On Friday, the heavily-indebted property group will offer investors a glimpse of its finances in its second-quarter results and enthusiasm for the one-time rising star has been displaced by a sense of foreboding. SBB is scrambling to salvage its finances after recently seeing its credit rating downgraded to junk.

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