Polish law may fail to deliver rating boost, says Fitch
Fitch has given a cautious assessment of recent changes to the Polish covered bond law that are expected to take effect from January 2015. The amendments, which introduce pass-through structures and mandatory liquidity facilities, should have lifted ratings. However, the agency’s downbeat analysis only concedes that the new law will not push ratings down. The opinion is likely to disappoint several borrowers that have been considering euro issuance.
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