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Ratings Affirmed On Oberoesterreichische Landesbank's Mortgage Covered Bonds Following Issuer Upgrade; Outlook Stable

Published Jul 12, 2017

4 pages (1622 words) — Published Jul 12, 2017

Price US$ 150.00 | Buy this Report Now

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Abstract:

OVERVIEW On June 13, 2017, we raised to 'A+' from 'A' our long-term issuer credit rating on Oberoesterreichische Landesbank (the issuer). On June 30, 2017, the issuer made an overcollateralization commitment for its mortgage covered bonds--commensurate with the current ratings of 'AA+'. Under our covered bonds criteria, the 'AA+' ratings on Oberoesterreichische Landesbank's mortgage covered bonds currently reflect the maximum achievable uplift above our long-term issuer credit rating on the issuer. We have therefore affirmed our 'AA+' ratings on the mortgage covered bond program and related issuances. The stable outlook on our ratings is supported by the issuer's overcollateralization commitment. FRANKFURT (S&P Global Ratings) July 12, 2017--S&P Global Ratings today affirmed its 'AA+' credit ratings on Oberoesterreichische Landesbank AG's mortgage

Brief Excerpt:

...OVERVIEW + On June 13, 2017, we raised to 'A+' from 'A' our long-term issuer credit rating on Oberoesterreichische Landesbank (the issuer). + On June 30, 2017, the issuer made an overcollateralization commitment for its mortgage covered bonds--commensurate with the current ratings of '##+'. + Under our covered bonds criteria, the '##+' ratings on Oberoesterreichische Landesbank's mortgage covered bonds currently reflect the maximum achievable uplift above our long-term issuer credit rating on the issuer. + We have therefore affirmed our '##+' ratings on the mortgage covered bond program and related issuances. + The stable outlook on our ratings is supported by the issuer's overcollateralization commitment. FRANKFURT (S&P Global Ratings) July 12, 2017--S&P Global Ratings today affirmed its '##+' credit ratings on Oberoesterreichische Landesbank AG's mortgage covered bond program and related issuances. The outlook is stable. Our covered bond ratings process follows the methodology and assumptions...

Report Type:

Ratings Action

Ticker

OBER@AV

Issuer

Oberoesterreichische Landesbank AG

GICS

Diversified Banks (40101010)

Sector

Global Issuers, Structured Finance

Country

Austria

Region

Europe, Middle East, Africa

Format:

PDF

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Cite this Report


MLA:	S&P Global Ratings’ Credit Research. "Ratings Affirmed On Oberoesterreichische Landesbank's Mortgage Covered Bonds Following Issuer Upgrade; Outlook Stable" Jul 12, 2017. Alacra Store. May 04, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Ratings-Affirmed-On-Oberoesterreichische-Landesbank-s-Mortgage-Covered-Bonds-Following-Issuer-Upgrade-Outlook-Stable-1881799>

APA:	S&P Global Ratings’ Credit Research. (). Ratings Affirmed On Oberoesterreichische Landesbank's Mortgage Covered Bonds Following Issuer Upgrade; Outlook Stable Jul 12, 2017. New York, NY: Alacra Store. Retrieved May 04, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Ratings-Affirmed-On-Oberoesterreichische-Landesbank-s-Mortgage-Covered-Bonds-Following-Issuer-Upgrade-Outlook-Stable-1881799>

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