Nordic bond maturities in 2019 - a slightly more challenging affair
Our analysis suggests the issuers may have to refinance 2019 maturities at a premium from current levels.
Financial
NCR comments: Sparbanken Rekarne 2018Q4 report
Our 'A-' issuer and issue ratings for Sparbanken Rekarne are unchanged following the publication of its 2018 results.
Kredittforeningen for Sparebanker
KfS is a licenced credit institution providing medium- and long-term senior loans to Norwegian savings banks. Established in 2004 by Eiendomskreditt AS and 49 savings banks, it serves as a vehicle for small savings banks with limited access to the bond market. Through a green bond initiative, KfS also allows banks to offer green loans and attract new investors. The company is organised as a credit association and is operated according to cooperative principles.
NCR comments: SpareBank 1 Østfold Akershus 2018Q4 report
Our 'A' issuer and issue ratings for SpareBank 1 Østfold Akershus are unchanged following the publication of its 2018 results.
NCR comments: Sparbanken Västra Mälardalen 2018Q4 report
Our 'BBB+' issuer and issue ratings for Sparbanken Västra Mälardalen's (SBVM) are unchanged following the publication of its 2018 results.
Norwegian bank's SME discount likely to be financed by mortgage customers
We expect new Norweigan regulations will lead to higher margins on mortgage loans to offset lower margin requirements for SME customers.
NCR expands coverage to covered bonds
During spring, 2019, market participants will be invited to provide comments on the covered bond methodology.
Sparbanken Västra Mälardalen
Rating withdrawn on 1 Sep. 2025 due to merger with then Sparbanken Rekarne, now Sparbanken Mälardalen.
Upward pressure on Swedish mortgage rates goes beyond Riksbank decision
The Riksbank may not raise the repo rate tomorrow due to weak inflation figures, slowing growth, Brexit concerns and a wavering global economy. However, other factors could drive mortgage rates.
Sparbanken Mälardalen AB (publ)
Sparbanken Mälardalen is a Swedish savings bank based in the Mälardalen region, west of Stockholm. Its core market comprises five municipalities with a combined population of about 180,000. Formed on 1 Sep. 2025 through the merger of Sparbanken Rekarne and Sparbanken Västra Mälardalen, it is one of Sweden's largest savings banks.
The bank is owned by the savings bank foundations of the two former banks and Swedbank AB. It has a history of collaborating with Swedbank on various products, IT solutions and retail mortgage financing through Swedbank Hypotek AB.