Moody’s avoids slaughter of multi-Cédulas sector, bides

By Bill Thornhill
07 Aug 2014

Moody’s this week got round to taking rating action on over 40 Spanish multi-Cédulas covered bonds on Friday.

Usually the agency takes three months to resolve reviews but in this case it will probably have set an internal record by taking two years. But by biding its time the agency avoided the punitive downgrades to junk that many had feared would cause forced selling.

Last year analysts ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial