Fastpartner posts second quarter earnings above year-ago result

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Swedish commercial property group Fastpartner on Tuesday reported second-quarter earnings with a net operating income above year-ago figures, but said the result did not fully compensate for increased financing costs. "Our financing is based on short fixed interest rates, so a change in the Riksbank's policy rate has an immediate impact on our interest costs," Fastpartner CEO Sven-Olof Johansson said in a statement. Swedish commercial property company Fastpartner has sought to reassure investors of its financial stability after Moody's had cut its credit rating to junk status.