Summary: Sveriges Bostadsfinansieringsaktiebolag, SBAB (publ) Apr 07
- ID: 1787042
- April 2007
- Standard & Poors
The ratings on Sweden-based Sveriges Bostadsfinansieringsaktiebolag, SBAB (publ) (SBAB) reflect the low-risk nature of the company's business of mortgage banking, its ownership by the Swedish government and the owner's commitment of support, and the company's good asset quality and adequate capitalization. The ratings are constrained by low and declining profitability, shrinking margins and market shares, and minimal revenue diversification. In addition, the long-term rating is constrained below that on the sovereign, due to the commercial nature of SBAB's business, which has led to the company being earmarked for privatization by the new Swedish government. With total assets of Swedish krona (SEK) 195.6 billion ($28.6 billion at SEK6.85 to $1) at Dec. 31, 2006, SBAB ranks as the fifth-largest mortgage institution...
Companies mentioned in this report are:
- SBAB Bank AB
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