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Research Update: SBAB Outlook Revised To Stable On Improved Market Share And Strengthened Capital Base; Ratings Affirmed At 'A+/A-1'
Standard & Poors, September 2010
The asset quality of Sveriges Bostadsfinansieringsaktiebolag, SBAB (publ) (SBAB) proved highly resilient during the recent economic and financial downturn and the company has been able to reverse previous trends, regaining market share and increasing earnings. A hybrid capital issue of Swedish krona 2 billion has improved the company's capital base and diminished our previous concerns about a possible capital reduction linked to transition to full Basel II rules. We are revising our outlook to stable from negative and affirming our 'A+' long-term and 'A-1' short-term counterparty credit ratings. The stable outlook reflects our view that SBAB is likely to maintain or slightly improve its position in the Swedish mortgage market and not weaken its capital position in transitioning to full...
Companies mentioned in this report are: SBAB Bank AB (publ)
Action: Outlook: Stable
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, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Product Type: Research Update
Research updates complement media releases. They offer more depth and detail than summary analyses by incorporating all information published in the media release. They are more up to date than summaries in that they are published simultaneously with media releases.
SBAB Bank AB (publ)