OVERVIEW We have assigned preliminary 'AAA' ratings to the mortgage covered bond program and related issuances of Finland-based The Mortgage Society of Finland. 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 stable outlook reflects the fact that the ratings on the covered bonds benefit from one unused notch of collateral-based uplift. LONDON (Standard&Poor's) March 31, 2016--Standard&Poor's Ratings Services today assigned preliminary '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
