Rating upgrade boosts Kutxabank ahead of covered bond maturities

By Tyler Davies
22 Jul 2019

Standard and Poor’s has upgraded its ratings for covered bonds issued by Kutxabank, as the Spanish lender looks ahead to a series of redemptions over the course of the next year.

S&P upgraded Kutxabank’s covered bonds to AA from AA- and kept them on a positive outlook.

Kutxabank said that the rating agency had credited its “commitment to maintain a minimum level of overcollateralisation in its covered bonds”.

The Spanish savings bank has €4bn of encumbered collateral versus €8.4bn ...

Please take a trial or subscribe to access this content.

Contact our subscriptions team to discuss your access: subs@globalcapital.com

Or sign up for a trial to gain full access to the entire site for a limited period.

Free Trial

Corporate access

To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: subs@globalcapital.com or find out more online here.