Scope has today withdrawn the AAA/Stable ratings on the Norwegian covered bonds (obligasjoner med fortrinnsrett) issued by Verd Boligkreditt AS (Verd) for business reasons.

Scope Ratings has updated its rating report on the Obligasjoner med fortrinnsrett (Norwegian mortgage-covered bonds) issued by Verd Boligkreditt AS.

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.

Scope Ratings has updated its rating report on the Obligasjoner med fortrinnsrett (Norwegian mortgage-covered bonds) issued by Verd Boligkreditt AS

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.

Scope Ratings has updated its rating report on the Obligasjoner med fortrinnsrett (Norwegian mortgage-covered bonds) issued by Verd Boligkreditt AS tot.

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.

Scope Ratings has updated its report on the Obligasjoner med fortrinnsrett (Norwegian mortgage-covered bonds) issued by Verd Boligkreditt AS.

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.*

Ten Norwegian savings banks organised under the Lokalbankallianse will become additional owners of Verd Boligkreditt AS. The agreement has been signed today. Strengths will be bundled, but the cover pool will remain relatively small.