Major UK Bank Covered Bonds' Ratings Benefit from Large Buffers
Banking & Financial Services / United Kingdom / Wed 13 Jun, 2018
Fitch Ratings says the 'AAA' ratings of covered bonds' issued by major UK banks are resilient to a deterioration in their environment, notably from Brexit. They benefit from a large cushion against a downgrade of the banks' Issuer Default Ratings (IDR), low maturity mismatches, significant over-collateralisation (OC) buffers and high quality