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| Abstract: | The program reaches a 'AA+' rating with a relatively high issuer credit rating (ICR) and very strong jurisdictional support assessment for mortgages in Austria and without any collateral support. The cover pool comprises first ranking mortgage claims, characterized by low loan-to-value (LTV) ratio levels and high seasoning. High asset concentration in the State of Upper Austria in both the residential and the commercial pools. Relatively high asset-liability mismatch, both in terms of maturity and interest rates. The stable outlook on the ratings on the covered bonds reflects the issuer's commitment to the current rating. In the absence of any unused notches of uplift for the rating, the outlook on the covered bonds typically reflects the outlook on the issuer (Oberoesterreichische |
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| Brief Excerpt: | ...+ The program reaches a '##+' rating with a relatively high issuer credit rating (ICR) and very strong jurisdictional support assessment for mortgages in Austria and without any collateral support. + The cover pool comprises first ranking mortgage claims, characterized by low loan-to-value (LTV) ratio levels and high seasoning.... |
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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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