Today, Fitch Ratings announces AAA-ratings of mortgage covered bonds issued from Realkredit Danmark’s Capital Centres S and T and a A-issuer rating (IDR) of Realkredit Danmark. Once again Realkredit Danmark holds AAA ratings from two rating agencies. It is the first rating of a Danish mortgage bank assigned by Fitch Ratings.
At the same time, Fitch Ratings announces the rating of mortgage covered bonds issued from Capital Centre T, which Realkredit Danmark applies for the funding of interest reset loans and adjustable rate loans, may be lowered to AA+ if Fitch Ratings implements new rating criteria. The new rating criteria was submitted for comments in May 2012. With these new rating criteria Fitch Ratings will cap ratings of Capital Centres with maturity mismatches and implied refinancing risks.
The new rating criteria will not impact Capital Centre S which Realkredit Danmark applies for the funding of fixed rate loans and capped floating rate loans. Bonds issued for the funding of these loans will thus have the highest attainable rating also when the new rating criteria may be in force.
The announced ratings emphasises the robust credit quality and resilient profitability of Realkredit Danmark. Realkredit Danmark expects the announced ratings to confirm investors’ trust in Realkredit Danmark and the Danish mortgage banking system. At the same time, the announced ratings will complete the process initiated by Realkredit Danmark when it chose to terminate its relations with Moody’s in June 2011.
Executive Board
Any additional questions should be addressed to CEO, Carsten Nøddebo Rasmussen,
phone +45 45 13 20 82.