LONDON (Standard&Poor's) Oct. 19, 2004--Standard&Poor's Ratings Services said today that it assigned its 'AAA' long-term credit rating to the Danish covered bonds ("Realkreditobligationer") issued by Nordea Kredit Realkredit A/S (Nordea Kredit). Nordea Kredit, a wholly owned subsidiary of Nordea Bank Danmark A/S, provides mortgage products to retail, agriculture, and corporate customers in Denmark. The main focus of the bank is to provide financing for single-family homes and this accounted for more than 80% of its total lending as at June 2004. "The credit rating assigned to the mortgage covered securities issued by Nordea Kredit reflects our level of comfort in the Danish covered bond legislation and the asset quality of the bank's high-quality mortgage cover pool
