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Ratings Assigned To Mediobanca's Italian Covered Bond Program And First Issuance Dec 11 Product Image

Ratings Assigned To Mediobanca's Italian Covered Bond Program And First Issuance Dec 11

  • Published: December 2011
  • Standard & Poors

FEATURED COMPANIES

Abstract
OVERVIEW We have assigned 'A' ratings to Mediobanca's inaugural up to €5 billion covered bond program and to its first issuance under the program. At the same time, we placed the ratings on CreditWatch negative to reflect the CreditWatch negative placement of Mediobanca's issuer credit rating. The first issuance is a €1.5 billion covered bond with a four-year soft-bullet maturity, extendible by two years. A pool of Italian residential mortgage loans originated by CheBanca! secures the covered bond. LONDON (Standard & Poor's) Dec. 14, 2011--Standard & Poor's Ratings Services today assigned its 'A' credit ratings to Mediobanca SpA's (Mediobanca; A/Watch Neg/A-1) inaugural Italian covered bond issuance ("obbligazioni bancarie garantite"; OBG) out of its new covered bond program. At the same...

Companies mentioned in this report are:
- Mediobanca SpA

Action: New Rating

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit READ MORE >

- Mediobanca SpA

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