Swedish Export Credit Corp. Jun 10

  • ID: 1953721
  • June 2010
  • Region: Sweden
  • Standard & Poors
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Extremely high likelihood of government support. Very good loan asset quality. Robust capitalization. Concentration on large individual exposures. Low profitability. Entirely wholesale funded. The ratings on state-owned Swedish Export Credit Corp. reflect our opinion that there is an extremely high likelihood of extraordinary support for the company from the Kingdom of Sweden (AAA/Stable/A-1+). They are also underpinned by the company's very good loan asset quality and robust capitalization. Factors constraining the ratings include the company's significant large exposure risk, low profitability, and high dependence on wholesale funding. With total assets of Swedish krona (SEK) 371 billion (€39 billion at SEK9.58 to €1) on March 31, 2010, Swedish Export Credit Corp. is a specialized provider of long-term financial solutions. Credit is...

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

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

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- Swedish Export Credit Corp.

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