S&P to implement new MC and CRE and methodology
At the end of April Standard & Poor’s will roll outs its new multi Cédulas (MC) rating methodology. It expects 40% of deals it rates to be downgraded two to three notches and 40% to be upgraded about two notches. At the same time it will implement its European commercial real estate (CRE) rating criteria, which will result in 10% of covered bonds with commercial real estate in the pool being downgraded by one notch and no upgrades.
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