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Standard & Poor's has upgraded KommuneKredit's credit rating to AAA

Press release -

Standard & Poor's has upgraded KommuneKredit's credit rating to AAA

Rating agency Standard & Poor’s has today upgraded KommuneKredit’s long-term credit rating to AAA (outlook stable). Standard & Poor’s has maintained the short-term credit rating at the highest level, A-1+.

Standard & Poor’s cites a stronger capitalization and an improved liquidity position as the cause of the upgrade. The upgrade comes after Standard & Poor’s downgrade of KommuneKredit’s long-term credit rating, from AAA to AA+, in the summer of 2018.

KommuneKredit’s CEO, Jens Lundager, states:

"I am very pleased that KommuneKredit is once again a Triple A issuer with Standard & Poor’s. We have not changed our business model, but we have implemented adjustments which better fit Standard & Poor’s rating model. These adjustments include, for example, transferring some investments from the trading book to the banking book. We have also increased our equity and are stronger than ever before.

KommuneKredit has a long-term credit rating of Aaa and a short-term credit rating of P-1 with Moody’s Investor Service, which are the highest ratings on Moody’s rating scale. The outlook is stable.

For further information please contact:

CEO Jens Lundager

jlu@kommunekredit.dk

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KommuneKredit is an association, whose purpose is to provide lending to municipalities and regions and companies with a 100% municipal guarantee.

The association is the municipalities and regions own credit institution and exist solely for our clients.

Contacts

Jens Lundager

Jens Lundager

Press contact CEO +45 3369 7622

KommuneKredit

KommuneKredit is a Danish special-purpose credit institution, providing funding for the local growth and green transition in municipalities and regions across Denmark.

KommuneKredit is an association with sustainability at its core and a strong ESG profile. Our member base consists of all Danish municipal and regional authorities. Our guarantee structure and safe business model have secured us a premium credit rating (AAA) (Aaa).

That is why we can offer municipalities and regions instant and uncomplicated access to financing of projects large or small and at the lowest possible cost. With equal opportunities and terms for all – across the entire country.

That is how it has been since 1899, when KommuneKredit first disbursed a loan. And that is the way it is today, as our dedicated employees advise on and arrange more than 2,000 loans every year.

When investors buy our bonds, we can disburse loans for purposes ranging from energy renovation of a local sports centre to the purchase of a new eco-friendly hybrid ferry, or the establishment of more sustainable district heating systems across the country.

For the benefit of ordinary citizens, for our local communities, and for an even greener future.

KommuneKredit

Kultorvet 16
DK-1175 Copenhagen K
Denmark

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