The issuer's credit strength combined with governance and cover pool support results in highest rating. The soft-bullet profile and overcollateralisation reduce risks from maturity mismatches and low-LTV cover assets are resilient to high stresses.

The issuer's credit strength combined with governance and cover pool support results in highest rating. The soft-bullet profile and overcollateralisation reduce risks from maturity mismatches and low-LTV cover assets are resilient to high stresses.

The issuer's credit strength combined with fundamental and cover pool support results in highest rating. The soft-bullet profile and overcollateralisation reduce risks from maturity mismatches and low-LTV cover assets are resilient to high stresses.

The highest achievable rating on the covered bonds is based on the issuer's rating enhanced by the low LTV cover pool consisting of owner-occupied, domestic residential assets.*

The covered bond rating reflects sound issuer credit quality. The granular, low-LTV and fully domestic residential cover pool is resilient to high credit stresses. Maturity mismatches remain the main driver of supporting overcollateralisation.

The covered bond rating reflects sound issuer credit quality. Granular, low-LTV and fully domestic residential cover pool resilient against high credit stresses. High asset margins and low market risks support the ratings.