STOCKHOLM (Reuters) – Swedish real estate group SBB, which is fighting not to succumb under mountains of debt, has postponed the release of its earnings report for the first quarter, it said on Thursday.
High debt, high interest rates and a wilting economy have hit many European property companies, with the sector in Sweden among the worst affected.
SBB, which suffered credit rating cuts last month as it said it would buy back debt at a 60% discount to its original value, said in a statement it had pushed back the publication of its quarterly results to May 6 from April 26.
It did not give a reason for the delay.
(Reporting by Anna Ringstrom; Editing by Alison Williams)
