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      New analysis on covered bonds issued by Austrian Wüstenrot
      THURSDAY, 25/07/2019 - Scope Ratings GmbH
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      New analysis on covered bonds issued by Austrian Wüstenrot

      Scope Ratings has updated its performance report on the Hypothekenpfandbriefe (Austrian mortgage covered bonds) issued by Bausparkasse Wüstenrot AG.

      Salzburg-based Bausparkasse Wüstenrot AG’s AAA covered bond ratings reflect the bank’s issuer rating, enhanced by up to four notches of fundamental credit support and three notches of cover pool support. Maturity mismatches drive the rating-supporting overcollateralisation level. The high credit quality of the domestic residential cover pool adds only incremental risk.

      On 12 July 2019, Scope affirmed the covered bonds at AAA/Stable. Click here for the corresponding press release.

      Download the performance update 

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