Multi-Cédulas OC improves but NPLs rise
Almost half of Spanish multi-Cédulas issuers have increased their cover pool overcollateralisation (OC), according to latest Moody’s research. However, the ratio of non-performing loans is still rising. Of the 31 issuers that make up the multi-Cédulas sector rated by Moody’s, 14 increased eligible OC and 11 decreased eligible OC during the second quarter, compared to the end of the first quarter.
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