The affirmation is based on the company’s supportive financial risk profile despite the deterioration in operating profitability putting pressure on credit metrics.

This publication does not constitute a rating action.

This publication does not constitute a rating action.

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

The rating action follows the restructuring of the issuer's financial debt that had a positive effect on the liquidity profile.

Scope Ratings has updated its rating report on BAPS, rated BBB-/Stable.

The affirmation continues to reflect ÉPKAR’s sound financial position, supported by its healthy backlog.

The rating reflects a well-established cooperative franchise, solid asset quality metrics and sound capital and funding positions.

The Outlook revision to Negative reflects Scope’s expectation of rising leverage driven by ambitious capex plans, which could weigh on the issuer’s financial profile amid potential cost pressures.

Class A notes have been fully redeemed.