The cover pool comprises residential mortgage-backed loans with low loan-to-value (LTV) ratios compared with the maximum allowed by legislation. Low portion of loans that pay interest-only until maturity. Relatively low percentage of tenant-owner rights. The program benefits from a public commitment to maintain a level of overcollateralization that is consistent with the rating. No committed coverage of 180 days of liquidity. The issuer's business focus causes a concentration in the region of South Sweden. Comparably low seasoning. The stable outlook reflects that the ratings on the covered bonds benefit from two unused notches of rating uplift under our covered bonds criteria (see "Covered Bonds Criteria," published on Dec. 9, 2014). Therefore, if we were to lower our long-term issuer credit
