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Ratings Raised On Cajamar Caja Rural's Spanish Mortgage Covered Bond Program; Outlook Stable

Published Jun 06, 2019

3 pages (1498 words) — Published Jun 06, 2019

Price US$ 150.00 | Buy this Report Now

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Abstract:

OVERVIEW On June 4, 2019, Cajamar Caja Rural committed to maintain a minimum level of overcollateralization commensurate with the maximum potential notches of collateral-based uplift. As a result of this commitment and to reflect the improved creditworthiness of the issuer, we have raised to 'AA' from 'A+' our ratings on Cajamar Caja Rural's Spanish mortgage covered bond program and related issuances. The stable outlook on the ratings reflects that we could lower or raise our ratings if we were to change our view of the creditworthiness of the issuer. MADRID (S&P Global Ratings) June 6, 2019--S&P Global Ratings today raised to 'AA' from 'A+' its credit ratings on the mortgage covered bonds ("cédulas hipotecarias") issued by Spain-based Cajamar Caja Rural

Brief Excerpt:

...June 6, 2019 OVERVIEW - On June 4, 2019, Cajamar Caja Rural committed to maintain a minimum level of overcollateralization commensurate with the maximum potential notches of collateral-based uplift. - As a result of this commitment and to reflect the improved creditworthiness of the issuer, we have raised to '##' from 'A+' our ratings on Cajamar Caja Rural's Spanish mortgage covered bond program and related issuances. - The stable outlook on the ratings reflects that we could lower or raise our ratings if we were to change our view of the creditworthiness of the issuer. MADRID (S&P Global Ratings) June 6, 2019--S&P Global Ratings today raised to '##' from 'A+' its credit ratings on the mortgage covered bonds ("cTdulas hipotecarias") issued by Spain-based Cajamar Caja Rural S.C.C. The outlook on our ratings is stable. Today's upgrade follow Cajamar Caja Rural's commitment to maintain a minimum level of overcollateralization in the program commensurate with the maximum notches of potential...

Report Type:

Ratings Action

Issuer

Cajamar Caja Rural S.C.C.

Sector

Global Issuers, Structured Finance

Country

Spain

Region

Europe, Middle East, Africa

Format:

PDF

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MLA:	S&P Global Ratings’ Credit Research. "Ratings Raised On Cajamar Caja Rural's Spanish Mortgage Covered Bond Program; Outlook Stable" Jun 06, 2019. Alacra Store. May 15, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Ratings-Raised-On-Cajamar-Caja-Rural-s-Spanish-Mortgage-Covered-Bond-Program-Outlook-Stable-2245701>

APA:	S&P Global Ratings’ Credit Research. (). Ratings Raised On Cajamar Caja Rural's Spanish Mortgage Covered Bond Program; Outlook Stable Jun 06, 2019. New York, NY: Alacra Store. Retrieved May 15, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Ratings-Raised-On-Cajamar-Caja-Rural-s-Spanish-Mortgage-Covered-Bond-Program-Outlook-Stable-2245701>

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