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SATO Corporation announces investment grade issuer rating assigned by Moody’s

May 20, 2015

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| SATO starts forming its secured funding structure towards mainly unsecured financing base Moody’s Investor Service has today assigned SATO Corporation a first-time, long-term issuer credit rating of Baa3 with a stable outlook. The assigned rating reflects Moody’s view of the company’s competent management of a good quality, well-located residential property portfolio that produces steady cash flows, which are generated by a granular tenant base and underpinned by consistently high occupancy rates. Erkka Valkila, CEO of SATO: - SATO’s strategic goal is to increase the value of the investment portfolio from current €2.6 billion to at least €4 billion by the end of 2020. Achieving an investment grade credit rating and forming a diverse funding structure support SATO’s growth ambitions. Esa Neuvonen, CFO of SATO: - Public credit rating enables the utilization of international financial markets, which increases flexibility and efficiency in financial arrangements. The rating also supports our aim for gradually increasing the portion of unsecured financing. Diversified sources of funding help us to maintain financing costs on a competitive level. Moody’s rating report on SATO can be found from here: https://www.moodys.com/research/Moodys-assigns-Baa3-rating-to-Sato-Oyj-stable-outlook--PR_324928 For more information please contact: Erkka Valkila, President and CEO, phone +358 201 34 4001 or +358 50 62 050 Esa Neuvonen, CFO, phone +358 201 34 4005 or +358 40 500 1003 |
| Attachment: SATO_ResearchDocument.pdf |