If the rating were to be lowered another step in the future, to Baa3, it is the last level of so-called investable level. Then follow the many ratings within so-called junk status.

Balder is the largest owner in Entra with a holding of 40 percent and CEO Erik Selin said last week during the company's report presentation that they intend to keep the holding and have no plans to expand its position and buy the whole company, as previously reported by Nordic Property News.

"Our long-term plan is to maintain the position. We will not buy up the company, it is too dangerous, even if the share price is extremely cheap now," Erik Selin said at Balder's report presentation.

The second largest owner in Entra is Balder's competitor Castellum, with 33.3 percent of the shares in the company.