Aktia Bank Plc: Moody's assigns Aa3 (Aa1) rating on covered bonds issued by Aktia Real Estate Mortgage Bank

Moody’s assigns rating Aa3 (Aa1) on covered bonds issued by Aktia Real Estate Mortgage Bank

Moody’s Investor Service today assigned an Aa3 (Aa1) rating on the covered bonds issued by Aktia Real Estate Mortgage Bank (REMB). The covered bonds have been under review for downgrade since 25 November 2011.

Aktia REMB announced 12 September 2012 that going forward it will focus on the maintenance and refinancing of the current loan portfolio. Aktia REMB parent company Aktia Bank plc will apply for concession for issuing of covered bonds directly from its balance sheet.

Moody’s states that the quality of the assets in Aktia REMB cover pools is high and Aktia REMB’s intention to substantially maintain the current cover pool compositions and segregate all future cash flows for the benefit of the respective cover pools until the final redemption of all outstanding covered bonds improves significantly the liquidity situation over time and reduces refinancing risks.

AKTIA BANK PLC
 

Aktia Bank Deputy Managing Director, CFO Stefan Björkman, tel. +358 50 63219
Aktia REMB Managing Director Timo Ruotsalainen tel. +358 10 247 7211