HELSINKI: On January 22, 2021 S&P Global Ratings (S&P) changed the trend of economic risk for Finland’s Banking Industry Country Risk (BICRA) to stable from negative.
The Finnish economy and banking sector are performing better than many other European countries amid the Covid-19 crisis.
S&P believes the Finnish banking sector is well positioned to weather additional pressure from the second wave of the pandemic and will demonstrate resilience in the wake of Covid-19.
Therefore the outlook of The Mortgage Society of Finland was also revised to stable. At the same time the issuer credit rating ‘BBB’ for long-term and ‘A-2’ for short-term were affirmed.
The Mortgage Society of Finland Group is the only nationwide expert organization specialized in home financing and housing in Finland. Hypo Group grants mortgages as well as renovation loans and consumer loans, both secured by residential property collateral, for first-time and other homebuyers.
Hypo Group continuously develops new ways and models for housing and home financing. www.hypo.fi