Landkreditt Boligkreditt’s AAA covered bond ratings are based on the bank’s A- issuer rating enhanced by six notches of cover pool support. Five of these notches reflect our assessment of the strong governance support provided by the Norwegian legal covered bond and resolution framework.

Provided that the covered bond programme’s risk structure does not change materially, the current covered bond ratings could remain unchanged up to a two-notch downgrade of the issuer – also supporting the Stable Outlook on the covered bond.

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 6 November 2023, Scope affirmed the covered bonds at AAA/Stable. Click here for the corresponding press release.

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