S&P reviews Eu1.46tr of covered bonds with criteria that please few
Standard & Poor’s on Wednesday released a long-awaited revision to its criteria for assessing asset-liability mismatch risks for its covered bond ratings, but although the rating agency made welcome changes to its original proposals, many market participants — not just issuers, but also investors — were disappointed by the final result.
S&P released its initial proposals in February and at that point said that 60% of covered bond programmes could be downgraded as a result of its planned changes.
This week S&P placed 98 covered bond programmes on CreditWatch. The majority of these (95) were placed on CreditWatch negative, two
To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: email@example.com or find out more online here.