Positive Outlook reflects material potential upside to business model following proposed merger with SpareBank 1 Ostlandet

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

The issuer rating of A- with stable outlook combined with governance support and the strength of the cover pool results in the highest achievable ratings for the covered bonds. Soft-bullets and overcollateralisation reduce maturity mismatch risks.

Scope Ratings has updated its analytical report on Totens Sparebank, rated A- with Stable Outlook.

The rating reflects the Norwegian savings bank's strong market position in its local area and stable operating performance, with sound asset quality and capital metrics.

Scope Ratings has updated its analytical report on Totens Sparebank, rated A- with Stable Outlook.

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

The rating continues to reflect the Norwegian savings bank's strong market position in its local area, solid earnings and sound prudential metrics while the reliance on market funding is a risk.

The highest achievable rating for the covered bonds results from the issuer's A- rating combined with governance support, updated for the new legal framework, and the strong cover pool.

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