The periodic review has resulted in no rating action.

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

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

Scope Ratings has updated its rating report on Landkreditt Bank, rated A- with Stable Outlook.

Scope Ratings has updated its rating report on Banco Santander S.A., rated AA- with Stable Outlook.

Scope has today withdrawn the AAA/Stable ratings on the Norwegian covered bonds issued by Totens Sparebank Boligkreditt AS for business reasons.

The rating on Bausparkasse Wüstenrot AG’s (Wüstenrot) Austrian mortgage Pfandbirefe reflects the issuer's credit strength enhanced by seven notches from governance and cover pool support. One notch buffer against an issuer downgrade.

The ratings are aligned with the Kingdom of Spain’s rating, reflecting the explicit, irrevocable, unconditional, and direct guarantee provided by the state on all of ICO’s liabilities.

The rating affirmation reflects continued robust operating and financial performance.

The rating affirmation reflects the continued robust performance of the bank’s business.