S&P lifts lid on KBC Coco structure with BB+ rating

14 Jan 2013

Standard & Poor’s has rated KBC Bank’s contingent capital instruments BB+, assigning minimal equity content to the proposed structure.

The ratings announcement confirms expectations that the bank’s Coco will take a permanent writedown structure with a trigger point at a 7% common equity tier one ratio. The host instrument will be a tier two security ...

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