The periodic review has resulted in no rating action.

Class B notes have been fully repaid.

Scope Ratings has updated its report on the Danish mortgage covered bonds (særligt dækkede realobligationer – SDRO) issued by Realkredit Danmark A/S out of capital centre S and capital centre T.

The change in Outlook reflects the risk that leverage will remain at a level that is not commensurate with the rating, given a significant reduction in available cash.

This publication does not constitute a rating action.

The downgrade is driven by Scope’s view of Ilija Batljan Invest’s announced intention to restructure its senior unsecured corporate bonds, which may be treated as a (Selective) Default under the agency’s rating definitions.

Notification on the change of solicitation status

This publication does not constitute a rating action.

The rating action reflects a revision of Scope’s expectations for Lufthansa’s credit metrics, primarily due to a slower-than-anticipated recovery in profitability and the group’s capex plan.

The periodic review has resulted in no rating action.