Ratings from Moody's Investors Service
Ratings from Moody's Investors Service, commissioned by the Bank.
| Type | Rating | Scale |
| International covered bonds issuance programme rating | Aa1 | Ratings scale in descending order: Aaa, Aa, A, Baa, Ba, B, Caa, Ca, C, with the possible addition of numerical modifiers 1, 2 and 3 (with 1 being the highest) for ratings from Aa to Caa |
| Domestic cover bonds issuance programme rating | Aa1 | Ratings scale in descending order: Aaa, Aa, A, Baa, Ba, B, Caa, Ca, C, with the possible addition of numerical modifiers 1, 2 and 3 (with 1 being the highest) for ratings from Aa to Caa |
| Long-term counterparty risk assessment | A1(cr) | Scale in descending order: Aaa(cr), Aa(cr), A(cr), Baa(cr), Ba(cr), B(cr), Caa(cr), Ca(cr), C(cr) with the possible addition of numerical modifiers 1, 2 and 3 (with 1 being the highest) for ratings from Aa(cr) to Caa(cr) |
| Short-term counterparty risk assessment | P-1(cr) | Scale in descending order: P-1(cr), P-2(cr), P-3(cr), NP(cr) |
| Long-term counterparty risk rating | A1 | Ratings scale in descending order: Aaa, Aa, A, Baa, Ba, B, Caa, Ca, C, with the possible addition of numerical modifiers 1, 2 and 3 (with 1 being the highest) for ratings from Aa to Caa |
| Short-term counterparty risk rating | P-1 | Scale in descending order: P-1, P-2, P-3, NP |
| Long-term issuer rating | A3 | Scale in descending order: Aaa, Aa, A, Baa, Ba, B, Caa, Ca, C with the possible addition of numerical modifiers 1, 2 and 3 (with 1 being the highest) for ratings from Aa to Caa |
| Short-term issuer rating | P-2 | Scale in descending order: P-1, P-2, P-3, NP |
Date of dispatch or confirmation: 23 September 2025.
Detailed information on rating methodology and scale are available on the agency’s website.
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