SSB Boligkreditt AS’s covered bond ratings reflect the bank’s issuer rating of A- combined with governance and cover pool support. A soft-bullet profile and overcollateralisation reduce risks from maturity mismatches; its low loan-to-value cover assets are resilient to stress.

The AAA rating of the covered bonds is vulnerable to a downgrade if the issuer’s credit quality deteriorates by three or more notches.

This monitoring note does not constitute a rating action, nor does it indicate the likelihood of a credit rating action in the short term. On 18 April 2023, Scope affirmed the covered bonds at AAA/Stable. Click here for the corresponding press release.

Download the performance update.