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Rating

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Rating

CDP's Covered Bond Programme is rated AA/Aa1/AAA respectively by Fitch, Moody's and S&P reflecting the effectiveness of the legal framework, the high quality of the cover pool and the credit enhancement provided by the structural features.

Fitch – Credit Analysis CDP Covered Bonds (December 04)

Moody's – Credit Analysis CDP Covered Bonds (December 04)

Standard and Poor's – Credit Analysis CDP Covered Bonds (December 04)

Updated as at: 11^th October 2011