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U.K. Covered Bonds Face Possible Downgrade
Moody’s Investors Service has place 14 covered bonds issued by U.K. banks and building societies on review for possible downgrade.
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.