Posts Tagged ‘ Standard & Poor’s ’

Swedish covered ratings reflect risks, says S&P, despite housing fears

Dec 11th, 2015
Riksbank image

Standard & Poor’s said on Tuesday that although there are concerns about the health of the Swedish housing market, its ratings of covered bonds in Sweden already reflect such risks, with the rating agency citing state support and resilience of its ratings to a sharp fall in house prices.

S&P considers Nykredit, DLR cuts on BRRD

May 15th, 2015
Nykredit image

Standard & Poor’s on Tuesday placed Nykredit and DLR Kredit on CreditWatch Negative but affirmed its ratings of fellow Danish banks Jyske, Danske and Nordea Bank Danmark, after completing a review relating to the potential withdrawal of government support for the banking sector under the Bank Recovery & Resolution Directive.

S&P sees risks looming for Norway and Finland

Mar 13th, 2015
Nordic Flags

Increasing economic risks may lead to bank downgrades in Norway and Finland, Standard & Poor’s has warned, while the introduction of bail-in regulation is putting pressure on banks across the Nordics. However, it sees positive signs for Icelandic banks.

S&P: Swedish covereds resilient even if house prices fall by 30%

Jan 9th, 2015
Riksbank image

Swedish house prices could fall in 2015 against a backdrop of stricter amortisation requirements and Europe’s deteriorating economic outlook, but Swedish covered bond ratings would likely prove resilient even if prices fell by 30%, Standard & Poor’s said yesterday (Wednesday).

S&P upgrades RD §15 bonds

May 8th, 2014
Realkredit Danmark image

Standard & Poor’s upgraded Realkredit Danmark senior secured issuance yesterday (Wednesday) following its lifting of parent bank Danske’s rating from A- to A Tuesday of last week, which came as part of wide-ranging BRRD-inspired bank rating actions.

S&P ups Danske but BRRD hits banks, covered RFC due

May 1st, 2014

S&P upgraded Danske and took rating actions on Swedish banks on Tuesday in connection with a raft of actions on European banks to reflect less assumed government support given new resolution frameworks, and also flagged plans to incorporate this into covered bond ratings.

Norwegian covered bond ratings withstand S&P stress tests

Mar 27th, 2014

The impact of the Norwegian housing market on covered bonds has been an ongoing topic for quite some time now. After strong growth of over 300% in the last 20 years, we’ve started to see the beginning of a correction in Norwegian house prices more recently.

Danish extension plan fails to fully resolve refi risk, says S&P

Feb 6th, 2014
Standard & Poor's

A proposal for conditional mandatory extension of some Danish covered bonds is a “step in the right direction” but does not fully eradicate mortgage banks’ refinancing risk, S&P said yesterday (Wednesday), and an issuer said the rating agency’s intervention could be helpful.

S&P relents after hearing Handelsbanken, SBAB cases

Sep 26th, 2013

SBAB and Svenska Handelsbanken had their ratings affirmed by S&P yesterday (Wednesday), two months after the rating agency placed them on CreditWatch negative.

One year still the Danish focus but RD preps Cita alternative

Aug 8th, 2013

Nykredit will launch its August refinancing auctions next Thursday, with one year ARM bonds dominating after a smaller than expected take-up of longer interest reset periods. Meanwhile, Realkredit Danmark is launching a Cita product aimed at addressing concerns about refinancing risk.