Moody’s cuts Eika Boligkreditt CRA

Moody's Investors Service said it affirmed the issuer rating of Baa1 and the long-term counterparty risk assessment of A3(cr) on Eika Boligkreditt AS.

The agency also assigned a counterparty risk rating of A3/P-2 to Eika Boligkreditt and downgraded its short-term counterparty risk assessment to P-2(cr) from P-1(cr).

The outlook is stable.

Moody’s said the ratings reflect a view of the credit risk profile of the banks forming the Eika alliance as well as the agency's assessment of the likelihood that these banks will support Eika Boligkreditt in case of need.

The agency said the downgrade of the short-term counterparty risk assessment better aligns Eika Boligkreditt's long-term counterparty risk assessment with Moody's practices of mapping long-term assessments of A3(cr) to P-2(cr).

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