S&P upgrades Swedish Club rating


Standard & Poor’s has upgraded the ratings outlook on The Swedish Club from ‘stable’ to ‘positive’ and the Club’s BBB rating is affirmed. Its decision is based on The Swedish Club’s continued progress in strengthening its capitalisation and performance.

Commenting on the upgrade, Lars Rhodin, Managing Director of The Swedish Club, said: “This report from Standard & Poor’s has a warm tone which underlines the progress made over the past few years. It identifies a series of positive markers and, in particular, notes that the Club continues to build a strong capital base and has important qualities of financial flexibility.

“The outcome, with an upgraded ‘Positive’ outlook, is both an encouragement to The Swedish Club’s management team and a spur to further progress. We have a clear programme to continue to strengthen the Club’s finances, grow the business selectivly and diversify the portfolio. In the latter area, we are pleased by the early progress made by our new Energy business, centred on Oslo,” he said.