Ålandsbanken - Company Announcement

Bank of Åland Plc: Standard & Poor’s raises credit rating on covered bonds issued by the Bank of Åland Plc to AAA with a stable outlook

Mariehamn, 2015-04-23 08:00 CEST (GLOBE NEWSWIRE) -- 

Bank of Åland Plc
Stock exchange release
April 23, 2015, 9.00 a.m.



Standard & Poor's raises credit rating on covered bonds issued by the Bank of
Åland Plc to AAA with a stable outlook 

The Standard & Poor's rating agency has revised its credit rating on covered
bonds issued by the Bank of Åland Plc (Ålandsbanken Abp) according to the
renewed criteria that Standard & Poor's published on December 9, 2014. 

The credit rating on covered bonds is being raised to AAA with a stable
outlook, from the earlier AA with a negative outlook. “Stable outlook” reflects
that there is one unutilised step left on the credit rating scale in the
programme. 

At this stage, Standard & Poor's credit rating of AAA with a stable outlook
applies to covered bonds issued from the Bank of Åland's Swedish cover pool. An
analysis of the Finnish cover pool is expected to be completed and published
shortly. 

The new credit rating reflects a very strong institutional framework and
legislation in the Finnish and European financial sector, as well as high
credit quality and strong liquidity in the Bank of Åland's cover pool. The Bank
of Åland has undertaken to maintain over-collateralisation equivalent to an AAA
credit rating plus six months of liquidity. 

Bank of Åland Plc

For further information, please contact:

Peter Wiklöf, Managing Director and Chief Executive, Bank of Åland Plc, tel
+358 40 512 7505