Stadshypotek AB Aug 10
Standard & Poors, August 2010
Abstract
Full operational integration within the Handelsbanken group Very strong position in the Swedish mortgage market Excellent asset quality and good capitalization Monoline mortgage lending business Fierce competition in a low-margin business Concentration in Sweden The ratings on Sweden-based Stadshypotek AB reflect the company's status as a fully integrated core subsidiary of the Svenska Handelsbanken group, its very strong position in the Swedish mortgage market, the excellent quality of its loan book, and its good capitalization. The ratings are, however, constrained by its limited business and geographic diversity and exposure to the competitive low-margin Swedish mortgage market. Stadshypotek's operations are operationally integrated and core to Svenska Handelsbanken (AA-/Stable/A-1+). Stadshypotek, however, still accesses the international capital markets itself to benefit from its...
Companies mentioned in this report are:
- Stadshypotek AB
- Svenska Handelsbanken AB
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, 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.
Research Type: Full Analysis
- Stadshypotek AB
- Svenska Handelsbanken AB
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