To NASDAQ OMX Copenhagen A/S and                                       27 December 2013
Luxembourg Stock Exchange                                                           Announcement no. 113/2013





Standard & Poor’s upgrades BRFkredit’s General Capital Centre from ‘AA-‘ to ‘AAA’


The rating agency Standard & Poor’s has announced that the rating of mortgage covered bonds (ROs) issued out of BRFkredit’s General Capital Centre have been upgraded from ‘AA-‘ to ‘AAA’.

The outstanding debt of the General Capital Centre amounts to DKK 6.0bn that predominantly accounts for lending to cooperative housing societies and private rental housing. The General Capital Centre has not been used for new lending for several years.

Covered bonds issued out of BRFkredit’s Capital Centre E and Capital Centre B maintain AAA ratings.

The announcement from Standard & Poor’s is attached.

For additional information, please contact:

Sven A Blomberg, CEO
Direct phone (+45) 45 26 25 00



Yours sincerely,
BRFkredit a/s

Ulrikke Ekelund
Chief Economist

Direct phone (+45) 45 26 22 57
E-mail uek@brf.dk

Web: brf.dk

Please observe that the Danish version of this announcement prevails