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| Abstract: | Relatively high issuer credit rating ('A+') due to the high likelihood of extraordinary government support from Upper Austria. Very strong jurisdictional support assessment for mortgages in Austria enables the program to reach a 'AA+' rating without any collateral support. The issuer commits to support a rating no higher than the current rating. High asset concentration in the State of Upper Austria. The stable outlook on the covered bonds reflects the stable outlook on Oberoesterreichische Landesbank AG (HYPO OOE). There are no unused notches of uplift. We are publishing this transaction update as part of our periodic review of Hypo OOE's covered bond program and related issuances. Our covered bond ratings process follows the methodology and assumptions outlined in our "Covered |
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| Brief Excerpt: | ...+ Relatively high issuer credit rating ('A+') due to the high likelihood of extraordinary government support from Upper Austria. + Very strong jurisdictional support assessment for mortgages in Austria enables the program to reach a '##+' rating without any collateral support.... |
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| Report Type: | Transaction Update Report |
| Ticker | OBER@AV |
| Issuer | |
| GICS | Diversified Banks (40101010) |
| Sector | Global Issuers, Structured Finance |
| Country | |
| Region | Europe, Middle East, Africa |
| Format: | | PDF |  |
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