To NASDAQ OMX Copenhagen A/S and
Luxembourg Stock Exchange
17 October 2011
Announcement no. 96/2011
Standard & Poor’s assigns a preliminary AAA rating to BRFkredit’s Bonds in both Capital Centre E and Capital Centre B
The rating agency Standard & Poor’s has assigned a preliminary AAA rating to covered bonds (SDOs) issued by BRFkredit’s Capital Centre E.
At the same time, Standard & Poor’s has also assigned a preliminary AAA rating to mortgage bonds (ROs) issued by BRFkredit’s Capital Centre B.
That rating is preliminary means in practice that some formalities must be in place before the rating can finally be confirmed.
- This is the highest rating of our bonds ever so naturally we are very satisfied. We have been through a long process of consolidation and during a time of crisis, we have significantly reduced our impairment charges and arrears, increased earnings and the black numbers are back on the bottom line. That is not the worst performance and that is underlined by this rating, CEO Sven A. Blomberg says.
It is expected that BRFkredit can announce an AA- rating of the General Capital Centre within the near future.
As bonds issued by the Capital Centre E have achieved an AAA rating, it has been decided to reopen this centre for new issuances. It has also been decided to close Capital Centre H and Capital Centre M and reverse bonds and mortgage deeds issued from these centres to Capital Centre E in order to maximize efficiency in the utilization of BRFkredit’s very large over-collateral. Consequently, bonds issued from Capital Centre H and Capital Centre M are also rated AAA.
Announcements from Standard & Poor’s are attached.
For additional information, please contact:
Sven A. Blomberg, CEO
Direct phone (+45) 45 26 25 00
Carsten Tirsbæk Madsen, Executive Vice President
Direct phone (+45) 45 26 28 71, mobile (+45) 40 25 88 74
Yours sincerely
BRFkredit a/s
Ulrikke Ekelund
Chief Economist
Direct phone (+45) 45 26 22 57
E-mail uek@brf.dk
Please observe that the Danish version of this announcement prevails
