Credit Rating Report

Sparkasse zu Lubeck AG Covered Bonds (Pfandbriefe - Mortgages): Surveillance Report

Covered Bonds

Summary

DBRS Ratings GmbH (Morningstar DBRS) confirmed its AAA credit ratings on the Series 3 Pfandbriefe (the German legislative covered bonds) issued under the Sparkasse zu Lübeck AG Mortgage Pfandbrief programme (SKL CB or the programme). The credit rating action follows Morningstar DBRS' full review of the programme.

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