Moody's assigns Aa2 rating to NORD/LB bonds

Moody's Investors Service said it assigned a definitive Aa2 long-term rating to the renewable energy covered bonds issued by NORD/LB Luxembourg SA Covered Bond Bank.

A covered bond benefits from the issuer's promise to pay interest and principal on the bonds and following a covered bond anchor event, the economic benefit of a collateral pool. Moody’s factored in the credit strength of NORD/LB Luxembourg into its rating.

The stressed level of losses on the cover pool assets following a covered bond anchor event (cover pool losses) for this transaction is 34.1%.

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