Summary: Swedish Export Credit Corp. May 02

  • ID: 1952411
  • May 2002
  • Region: Sweden
  • Standard & Poors
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The ratings on Swedish Export Credit Corp. (known as SEK) reflect Standard & Poor's revised assessment of the robustness of government support for export credit agencies, the continual weakening of SEK's core business franchise, as well as the company's strategic reorientation, which may improve performance, but which may also increase the level of risk. The ratings on SEK also reflect the high creditworthiness of its majority owner, the Kingdom of Sweden (local currency AAA/Stable/A-1+; foreign currency AA+/Positive/A-1+),while the other owner, Swiss-Swedish engineering group ABB (ABB Asea Brown Boveri Ltd. A/NegativeA-2) is not expected to remain a long-term owner in SEK. The ratings on SEK are also supported by sturdy capitalization and excellent asset quality. SEK no longer benefits from having...

Companies mentioned in this report are:
- Swedish Export Credit Corp.

Action: Review

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- Swedish Export Credit Corp.

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