OVERVIEW As part of our ongoing surveillance, we have reviewed our ratings on Nordea Kredit Realkredit's Capital Center 2 Danish mortgage covered bond program and related issuances. The program's available credit enhancement and features remain commensurate with the currently assigned ratings. We are therefore affirming our 'AAA/A-1+' ratings on the Capital Center 2 program and related issuances. The stable outlook on our ratings reflects the three unused notches of collateral-based uplift and one notch of unused jurisdictional support from the reference rating level on the program. LONDON (S&P Global Ratings) Dec. 1, 2016--S&P Global Ratings today affirmed its 'AAA/A-1+' credit ratings on Danish mortgage credit institution Nordea Kredit Realkredit A/S' Capital Center 2 mortgage covered bond program and all series
