The Mortgage Society of Finland Covered Bond Program Assigned 'AAA' Rating; Outlook Stable

OVERVIEW We have assigned 'AAA' ratings to the mortgage covered bond program and first issuance of Finland-based The Mortgage Society of Finland. Our 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 stable outlook reflects that there is one unused notch of rating uplift. MADRID (S&P Global Ratings) May 10, 2016--S&P Global Ratings today assigned its 'AAA' credit ratings to the mortgage covered bond program and related issuances of The Mortgage Society of Finland (Suomen Hypoteekkiyhdistys, or Hypo). Our covered bond ratings process follows the methodology and assumptions outlined in "Covered Bonds Criteria," published on Dec. 9, 2014 and "Covered

...OVERVIEW + We have assigned '###' ratings to the mortgage covered bond program and first issuance of Finland-based The Mortgage Society of Finland. + Our 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 stable outlook reflects that there is one unused notch of rating uplift. MADRID (S&P Global Ratings) May 10, 2016--S&P Global Ratings today assigned its '###' credit ratings to the mortgage covered bond program and related issuances of The Mortgage Society of Finland (Suomen Hypoteekkiyhdistys, or Hypo). 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 Hypo's covered bond program and the Finnish legislative covered bond framework, we have concluded that...

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