The issuer’s credit strength combined with governance and cover pool support result in the highest rating. Market risks are moderate. Sound credit quality of the cover pool with granular, low loan-to-value domestic residential mortgage secured loans.

The issuer’s sound credit strength combined with governance and cover pool support result in the highest rating. Market risks are moderate. Sound credit quality from domestic, residential and low loan-to-value cover assets.

Lower stressed maturity mismatches result in lower overcollateralisation needed to support the rating. The credit quality of the domestic residential cover pool remains sound. High stakeholder cohesiveness increases the rating floor.

The rating reflects strong support from the cover pool. Stressed maturity mismatches drive the level of rating-supporting overcollateralisation. The sound credit quality of the domestic residential cover pool adds only incremental risk.

The rating reflects strong support from the cover pool. Maturity mismatches drive the rating-supporting overcollateralisation level. The sound credit quality of the domestic residential cover pool adds only incremental risk.

Scope Ratings has updated its performance report on the Hypothekenpfandbriefe (Austrian mortgage covered bonds) issued by Bausparkasse Wüstenrot AG.

The rating reflects the strong support from the cover pool. Maturity mismatches drive the rating-supporting overcollateralisation level. The high credit quality of the domestic residential cover pool adds only incremental risk.

Scope Ratings has updated its rating report on mortgage-covered bonds issued by Bausparkasse Wüstenrot AG, rated AAA with Stable Outlook.

Enhanced clarity on insolvency ranking of Austrian unsecured debt prompts upgrade of the covered bond ratings. Strong credit quality of the cover pools coupled with ongoing high levels of overcollateralisation supports rating uplift.

Covered bond ratings reflect the solid credit quality of the issuer, enhanced by a low-risk cover pool.