Announcement 11/2002
Moody's assigns Aa1 rating to BRFkredit bonds
As from January 1st 2003 BRFkredit opens a new Capital Centre B. Bonds issued from this Capital Centre will have an Aa1 rating from Moody's Investors Service.
At the same time the bond series (including matching securities) carrying the code B will be transferred to the new Capital Centre B (as per the terms and conditions for the bonds). These bonds have formed the basis of BRFkredit's mortgage lending since September 2002.
Bonds in Danish kroner and Euro will be issued from Capital Centre B to finance callable and adjustable interest rated loans. The Capital Centre will also be used to refinance adjustable interest rated loans.
The imminent refinancing mid December 2002 of adjustable interest rated loans will thus take place in bonds rated Aa1 as from January 1st 2003.
Sven A. Blomberg, CEO of BRFkredit comments:
"We are satisfied with the fact that Moody's have up-graded BRFkredit’s bonds carrying the code B to Aa1. The rating reflects the high quality of BRFkredit's portfolio. 87% of the total number of loans granted by BRFkredit are for housing purposes, while the remainder mainly is for office and business purposes. Earlier this year BRFkredit signed agreements on sale and distribution of BRFkredit's products with the SAFE-estate agents and Handelsbanken Midtbank, thus widening BRFkredit's longstanding and efficient collaboration with the EDC estate agents. The present assignment of the high rating of BRFkredit bonds has added further strength to BRFkredit’s competitive position".
For further information please contact
At the same time the bond series (including matching securities) carrying the code B will be transferred to the new Capital Centre B (as per the terms and conditions for the bonds). These bonds have formed the basis of BRFkredit's mortgage lending since September 2002.
Bonds in Danish kroner and Euro will be issued from Capital Centre B to finance callable and adjustable interest rated loans. The Capital Centre will also be used to refinance adjustable interest rated loans.
The imminent refinancing mid December 2002 of adjustable interest rated loans will thus take place in bonds rated Aa1 as from January 1st 2003.
Sven A. Blomberg, CEO of BRFkredit comments:
"We are satisfied with the fact that Moody's have up-graded BRFkredit’s bonds carrying the code B to Aa1. The rating reflects the high quality of BRFkredit's portfolio. 87% of the total number of loans granted by BRFkredit are for housing purposes, while the remainder mainly is for office and business purposes. Earlier this year BRFkredit signed agreements on sale and distribution of BRFkredit's products with the SAFE-estate agents and Handelsbanken Midtbank, thus widening BRFkredit's longstanding and efficient collaboration with the EDC estate agents. The present assignment of the high rating of BRFkredit bonds has added further strength to BRFkredit’s competitive position".
For further information please contact
Sven A. Blomberg, CEO on phone +45/4526 2500
Carsten Tirsbęk Madsen , CFO on phone +45/4526 2871
Jens Christian Nielsen, Chief Economist on phone +45/4526 2872.
Yours faithfully,
BRFkredit
Sven A. Blomberg, CEO
Should queries arise please note that the Danish version of this announcement is prevailing.
| Read a description of Capital Centre B |
- BRFkredit
- Klampenborgvej 205
- 2800 Kgs. Lyngby
- Telephone: (+45) 45 93 45 93