Moody’s Investors Service has place 14 covered bonds issued by U.K. banks and building societies on review for possible downgrade. Included are bonds from Coventry Building Society, Co-operative Bank and Nationwide Building Society, among others. Moody’s says its action is not based on a deterioration of credit quality of the credit pools, but on possible increases in expect losses and changes in its timely-payment indicator.

Click here to read the release from Moody’s.