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Summary: Stadshypotek AB Jun 09 Product Image

Summary: Stadshypotek AB Jun 09

  • Published: June 2009
  • Standard & Poors

FEATURED COMPANIES

  • Stadshypotek AB
  • Svenska Handelsbanken AB
  • MORE

Abstract
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 strong name recognition. To distribute its mortgage loans, Stadshypotek relies on Handelsbanken's nationwide branch network. With assets of Swedish krona (SEK) 658 billion ($79.1 billion at SEK8.32 to $1) as at March 31, 2009,...

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. READ MORE >

- Stadshypotek AB
- Svenska Handelsbanken AB

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