Nordic Credit Rating (NCR) has been included as an eligible credit rating agency under Sweden's central bank's (the Riksbank) asset purchase programme. This means that the Riksbank can purchase commercial paper issued by corporate entities with an NCR long-term credit rating of at least 'BBB-' and/or a short-term credit rating of 'N-1'.
The efforts are part of a SEK 300 billion bond buying program initiated by the Riksbank to mitigate the effects of the corona pandemic (see Swedish government initiatives support disrupted credit markets, 23 Mar. 2020). It specifically aims to improve market functionality and thus improve credit supply to Swedish companies, thereby supporting demand, output and employment in Sweden. The next bid date for the commercial paper purchases is on 22 Apr. 2020.
Link to credit ratings issued by Nordic Credit Rating.
Link to the auction announcement from the Riksbank.
Gustav Liedgren, CEO
gustav.liedgren@nordiccreditrating.com
+46736496543