Cédulas sink with covered downgrades rife

© 2026 GlobalCapital, Derivia Intelligence Limited, company number 15235970, 161 Farringdon Rd, London EC1R 3AL. All rights reserved.

Accessibility | Terms of Use | Privacy Policy | Modern Slavery Statement | Event Participant Terms & Conditions | Cookies

Cédulas sink with covered downgrades rife

Public sector backed Cédulas became the latest victim of sweeping rating cuts on Thursday as Moody’s took negative action on 10 programmes after cutting the Spanish sovereign on Monday. The cuts bring the total number of negative rating actions taken on covered bonds in the last six weeks to around 40, according to Deutsche Bank analysts.

Unlock this article.

The content you are trying to view is exclusive to our subscribers.

To unlock this article:

Request demo or Login
  • 4,000 annual insights
  • 700+ notes and long-form analyses
  • 4 capital markets databases
  • Daily newsletters across markets and asset classes
  • 2 weekly podcasts
Gift this article