Bradford & Bingley CB Program Loses AAA Status

26 Aug 2008

The covered bond program set up by U.K. building society Bradford & Bingley has been downgraded to Aa1 from AAA by Moody’s Investors Service.

--Alex Sebastian

The covered bond program set up by U.K. building society Bradford & Bingley has been downgraded to Aa1 from AAA by Moody’s Investors Service. The action has been taken because the agency was not satisfied that the measures planned to improve protection offered to covered bond holders ...

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