Hypo-Bank Burgenland AG’s AAA mortgage covered bond rating reflects the bank’s issuer rating of A-, enhanced by up to seven notches of cover pool support – six of which are only needed to support the highest rating. Stressed maturity mismatches in combination with credit risks stemming from the mixed cover pool drive the rating-supporting overcollateralisation of 14.0%. Risks are generously buffered by available overcollateralisation of 62.7% as of 30 September 2021.

Fundamental credit factors provide a credit support of up to four notches shielding the ratings against a deterioration of the cover pools credit quality.

This is not a rating action. On 30 November 2021, Scope affirmed the covered bonds at AAA/Stable. Click here for the corresponding press release.

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