Samhallsbyggnadsbolaget i Norden (SBB), which is listed on the Stockholm Stock Exchange, is currently fighting for its survival.
The company was founded by the former social democrat Ilija Batljan with a background as a social democratic municipal councilor in Nynashamn, a political expert at the Ministry of Social Affairs and as a county councilor in opposition in Stockholm city.
Contrary to what the founder, CEO and major owner Ilija Batljan thought, the company had its credit rating lowered by Standard & Poor's (S&P) at the beginning of May this year.
In this case, it had several consequences. The planned new issue was postponed, the price plummeted and the interest on some of the existing loans that the company has skyrocketed.
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