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FIGCovered Bonds

Kommunalkredit sale to hit Sfr bonds

A partial sale of Kommunalkredit to a new company, KA New, is likely to lead to lower credit ratings for the bank’s Swiss franc-denominated covered bonds. However its euro-denominated covered bonds will remain in the wind down entity, KA Finanz, and should be better protected, said Commerzbank research on Monday.

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