The Swedish Covered Bond Corporation (SCBC), a subsidiary of state-owned SBAB Bank, has withdrawn covered bond rating from American financial institution Standard & Poor’s.
The group has confirmed that it would no longer be using Standard & Poor’s ratings starting 13 June 2014 for covered debt.
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SCBC has retained the covered bond rating from Moody’s, while its parent company will continue with the rating both from S&P and Moody’s.
A credit market company, SCBC predominantly involves in the issuance of covered bonds in Swedish and international markets.
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