Leverage policy

Our target leverage is between zero and ten percent of total adjusted assets over a business cycle. Given the nature of our business, leverage can fluctuate above and below the desired level over time. However, leverage should not exceed 20 percent over any longer periods of time. Our leverage policy allows us to capture opportunities in the market and support our holdings, while taking our tax status into consideration.

Debt financing of the subsidiaries within Patricia Industries is arranged on an independent, ring-fenced basis and hence not included in Investor’s net debt. 

Rating information

Investor AB has short- and long term ratings from Standard & Poor's and Moody's. Review meetings are held with managment every year, and Investor AB is in regular contact with the rating analysts.