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Summary: SBAB (The Swedish National Housing Finance Corp.) Product Image

Summary: SBAB (The Swedish National Housing Finance Corp.)

  • Published: May 2003
  • Standard & Poors

FEATURED COMPANIES

Abstract
The ratings on The Swedish National Housing Finance Corp. (known as SBAB) reflect the institution's government ownership, and the owner's commitment to supporting the company. The majority of SBAB bondholders also benefit from an ownership clause, which states that they have the right to redeem their bonds if the government ceases to be the majority owner of SBAB. The rating is constrained below that on the sovereign due to the nature of SBAB's business, which makes the company a possible candidate for privatization. With total assets of Swedish krona (Skr) 138.6 billion ($17.5 billion at Skr7.88 to $1) at March 31, 2003, SBAB ranks as the fourth-largest mortgage institution in the Swedish market. The Tier 1 regulatory capital ratio was...

Companies mentioned in this report are: SBAB Bank AB (publ)
Action: Review

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, READ MORE >

SBAB Bank AB (publ)

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