Research Update: Nordea Bank And Operating Subsidiaries Affirmed At 'AA-/A-1+' On Bank Criteria Change; Outlook Stable Nov 11
- Language: English
- Published: November 2011
The rating on Nordea Hypotek AB (NH) is based on the company's relative importance within the business of the Nordea group, specifically within the Swedish arm, Nordea Bank AB (A+/Stable/A-1). Other factors supporting the ratings are the very high level of operational integration of NH in the Nordea Bank structure, NH's very high asset quality, and its sound capitalization. NH is a key part of the Nordea group, as all the group's mortgage loans in Sweden are provided through it. The company focuses on long-term lending to Swedish households, municipalities, and corporate entities. All loans are secured either by mortgages on residential properties or municipal guarantees. NH had a total loan portfolio of Swedish krona (Skr) 212.1billion ($27.8 billion at...
Companies mentioned in this report are:
- Nordea Hypotek AB
- Nordea Bank AB
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.
This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included. SHOW LESS READ MORE >