CaixaBank S.A. Spanish Mortgage Covered Bond Ratings Affirmed At 'AA+'; Outlook Stable

Following the transposition of the European Covered Bond Directive into Spanish legislation, we have updated our analysis of CaixaBank's mortgage covered bond program. The program's available credit enhancement remains commensurate with the currently assigned ratings. We therefore affirmed our 'AA+' ratings on the covered bond program and related issuances. The stable outlook on the mortgage covered bonds reflects the stable outlook on our long-term rating on the issuer and the sovereign. MADRID (S&P Global Ratings) Jan. 26, 2023--S&P Global Ratings today affirmed its 'AA+' credit ratings on CaixaBank S.A.'s mortgage covered bond program and related issuances. The outlook on the ratings is stable. The Spanish Royal Decree Law from November 2021, partially amended in June 2022, aligned the Spanish covered

...- Following the transposition of the European Covered Bond Directive into Spanish legislation, we have updated our analysis of CaixaBank's mortgage covered bond program. - The program's available credit enhancement remains commensurate with the currently assigned ratings. We therefore affirmed our '##+' ratings on the covered bond program and related issuances. - The stable outlook on the mortgage covered bonds reflects the stable outlook on our long-term rating on the issuer and the sovereign. MADRID (S&P Global Ratings) Jan. 26, 2023--S&P Global Ratings today affirmed its '##+' credit ratings on CaixaBank S.A.'s mortgage covered bond program and related issuances. The outlook on the ratings is stable. The Spanish Royal Decree Law from November 2021, partially amended in June 2022, aligned the Spanish covered bond framework with the EU's Covered Bond Directive. The Royal Decree Law enhances transparency and regulatory oversight and allows financial institutions to manage the level of overcollateralization...

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