The investment vehicle owned by Ilija Batljan, the founder of troubled landlord SBB, was downgraded deeper into junk territory by Scope Ratings.

Ilija Batljan Invest AB was cut six notches to CCC from BB+, according to a statement. It’s the latest blow for the property mogul, who was ousted in June as chief executive of Samhallsbyggnadsbolaget i Norden AB — as the company is formally known.