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Stock impact report

Swedish property groups must cut debt, central bank chief says [Reuters]

Moody's Corporation (MCO) 
Last moody's corporation earnings: 4/30 07:00 am Check Earnings Report
US:NYSE Investor Relations: ir.moodys.com/home/default.aspx
Company Research Source: Reuters
"The fact that the Riksbank recently decided to hold the policy rate unchanged at 4% should not be interpreted as meaning that inflation risks have disappeared and that interest rates will fall rapidly," Thedeen said in a summary of a speech. Swedish banks are among the best capitalised in Europe, but are heavily exposed to a property sector where companies ramped up borrowing when rates were low and are now struggling with soaring interest costs. The central bank has called on high-street lenders to restrict dividend payments and share buy-backs so they have sufficient buffers to deal with the chance of deeper problems in the commercial real estate sector. Around 64% of bank lending is related to property, which includes household mortgages, according to rating agency Moody's. Show less Read more
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