Sparbanken Skane's Mortgage Covered Bond Program Assigned Preliminary 'AAA' Rating; Outlook Negative

OVERVIEW We have assigned preliminary 'AAA' ratings to the mortgage covered bond program and related first issuance of Swedish bank Sparbanken Skåne. Our preliminary ratings reflect our review of the program under our covered bonds criteria and the fact that available credit enhancement exceeds the required credit enhancement for a 'AAA' rating. The negative outlook reflects the rating on the issuer and the lack of unused notches of rating uplift in our rating on the covered bond program. LONDON (S&P Global Ratings) Sept. 13, 2017--S&P Global Ratings today assigned preliminary 'AAA' credit ratings to the mortgage covered bond program and related issuance of Swedish bank Sparbanken Skåne. Our covered bond ratings process follows the methodology and assumptions outlined in "Covered

...OVERVIEW + We have assigned preliminary '###' ratings to the mortgage covered bond program and related first issuance of Swedish bank Sparbanken Sksne. + Our preliminary ratings reflect our review of the program under our covered bonds criteria and the fact that available credit enhancement exceeds the required credit enhancement for a '###' rating. + The negative outlook reflects the rating on the issuer and the lack of unused notches of rating uplift in our rating on the covered bond program. LONDON (S&P Global Ratings) Sept. 13, 2017--S&P Global Ratings today assigned preliminary '###' credit ratings to the mortgage covered bond program and related issuance of Swedish bank Sparbanken Sksne. Our covered bond ratings process follows the methodology and assumptions outlined in "Covered Bonds Criteria," published on Dec. 9, 2014 and "Covered Bond Ratings Framework: Methodology And Assumptions," published on June 30, 2015. From our analysis of Sparbanken Sksne's covered bond program and the...

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