16.07.2013 19:12:00

Moody's: European covered bond TPIs improved over the crisis in stronger sovereigns, even as banking sector weakened

London, 16 July 2013 -- Since the beginning of the financial crisis, the credit strength of covered bonds in jurisdictions characterised by sovereigns with strong creditworthiness has become less dependent on the credit strength of the bank supporting the covered bonds, says Moody's Investors Service in a new Special Comment published today. Covered bond ratings in jurisdictions whose sovereign is rated Aa and above have thus increased their average uplift over the supporting banks' ratings.

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