Moody's assigns (P)Aaa to Skandiabanken Boligkreditt's covered bonds (Norway)

London, 25 August 2015 -- Moody's Investors Service has today assigned a provisional (P)Aaa long-term rating to the covered bonds to be issued by Skandiabanken Boligkreditt AS (Skandia-BOL or the issuer; current name: Midgard Prosjekt II AS; unrated). Skandia-BOL has been established in connection with a contemplated transaction agreement to separate the Norwegian business of SkandiaBanken AB (Sweden). If executed, a pool of Norwegian residential mortgages will back covered bonds, which will be governed by the Norwegian covered bond legislation. Covered bonds issued by Skandia-BOL will not have recourse to SkandiaBanken AB or SkandiaBanken AB's Swedish cover pool

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