Credit Rating Report

Banca Nazionale del Lavoro S.p.A. Covered Bonds (OBG - Mortgages): Surveillance Report

Covered Bonds

Summary

On 11 December 2024, DBRS Ratings GmbH (Morningstar DBRS) confirmed its AA (low) credit ratings on the Obbligazioni Bancarie Garantite (OBG, or the Italian legislative CB) issued under the Banca Nazionale del Lavoro S.p.A. (BNL or the Issuer) EUR 22 billion CB Programme (BNL OBG or the Programme), which are guaranteed by Vela OBG S.r.l.

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Issuers

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