Preliminary Rating Assigned To First Swedish Covered Bond Program From SBAB's Subsidiary May 06
- ID: 1787026
- May 2006
- Region: Sweden
- Standard & Poors
FRANKFURT (Standard & Poor's) May 24, 2006-Standard & Poor's Ratings Services said today that it assigned a preliminary credit rating to the €10 billion covered note and unlimited Swedish benchmark bond program. Issuances out of this program will be made by AB Sveriges Sakerstallda Obligationer (publ) (The Swedish Covered Bond Corp.) (see list below). The issuer is a subsidiary of Sweden-based Sveriges Bostadsfinansieringsaktiebolag, SBAB (publ) (AA-/ Stable/A-1+). The collateral comprises a pool of loans secured on "Pantbrev", pledges of shares in housing co-operatives, and guarantees, including municipal guarantees and guarantees provided from the national housing credit guarantee board located in the Kingdom of Sweden. This is the first Swedish covered bond program rated by Standard & Poor's. The preliminary rating...
Companies mentioned in this report are:
- AB Sveriges Sakerstallda Obligationer (The Swedish Covered Bond Corp.)
- SBAB Bank AB
Action: Preliminary Rating
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Research type: News
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