Overview Key strengths Considering the ‘A’ issuer credit rating (ICR) on Sparbanken Skane and the very strong systemic importance of covered bonds in Sweden, the program achieves ‘aaa’ ratings at the jurisdiction-supported rating level (JRL) and the coverage of the legal minimum overcollateralization (2%). The program benefits from three unused notches that would protect the covered bond ratings if we were to lower the long-term ICR on the issuer. The application of our covered bonds criteria allows the program to achieve ‘AAA’ ratings based on the jurisdictional support analysis and the coverage of the legal minimum overcollateralization (2%). Our assessment of ‘AAA’ credit risk and the target credit enhancement (TCE) improved. As of June 2026, the amount of cover pool
