HSH Nordbank received Moody’s Aaa rating for mortgage Pfandbrief
Hamburg/Kiel, December 8, 2010 - HSH Nordbank’s mortgage cover pool has been received the highest possible rating, Aaa, by Moody’s rating agency.
The cover pool is around EUR 6 billion in size and is to be further increased in the years to come. It contains principally commercial real estate, but also residential properties. In its rating statement, Moody’s pointed to HSH Nordbank’s expertise as a long-standing lender to the real estate sector and the high quality of the assets in the cover pool.
“The Aaa rating for the mortgage cover pool represents one more step by HSH Nordbank to strengthen its position as a regular issuer of mortgage Pfandbriefs”, said Jörg Arndt, Head of Treasury at HSH Nordbank.
HSH Nordbank had already returned to the public capital market in June by placing a Pfandbrief amounting to EUR 500 million. Furthermore, in order to fund its US dollar business, last week the Bank signed a loan agreement for USD 500 million with a term of five years with the state-owned China Development Bank.
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