Covered Bonds

As of today (Monday) the Association of German Pfandbrief Banks is publishing separate yield curves for mortgage and public sector covered bonds.

Pfandbriefbank Schweizerischer Hypothekarinstitute increased a 2.75% October 2020 bond by Sfr281m on Friday, taking the total to Sfr650m, via Credit Suisse.

Standard & Poor’s yesterday (Thursday) affirmed its AAA rating of Achmea Hypotheekbank’s covered bonds after the Dutch bank took remedial action necessitated by changes to the rating agency’s counterparty methodology.

The market related issues working group of the European Covered Bond Council yesterday (Thursday) heard presentations from three potential providers of electronic trading platforms for the market.

n/a These banks, or their predecessors, were not in the top 20 in 2007.

Fitch yesterday (Thursday) affirmed Clydesdale’s issuer default rating at AA-, stable outlook, but placed the bank’s individual rating on negative review.

Commerzbank will today (Friday) price the first unguaranteed senior unsecured bond from a German issuer since the collapse of Lehman Brothers.

Bank Khreschatyk has cancelled its Hr70m (Eu7.1m) covered bonds.

Fitch yesterday (Wednesday) said that the AA rating of Barclays Bank is no longer justifiable given the risks and earnings volatility the bank is exposed to via Barclays Capital.

ING’s release of preliminary results for the fourth quarter of 2008 prompted Moody’s and Fitch to yesterday (Wednesday) downgrade the Dutch bank’s credit rating.

Fitch yesterday (Wednesday) downgraded EBS Building Society’s senior debt rating from A to BBB+. The rating action dragged down the support rating of EBS’s covered bond issuing subsidiary, EBS Mortgage Finance, from 1 to 2 to reflect the change in its parent's rating.

Fitch yesterday (Wednesday) announced positive rating news for two of Spain’s savings banks.