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Bank of Scotland PLC Covered Bond Program Rating Affirmed Following Review Feb 08
Standard & Poors, February 2008
LONDON (Standard & Poor's) Feb. 26, 2008-Standard & Poor's Ratings Services said today that it has affirmed its 'AAA' credit ratings on Bank of Scotland PLC Covered Bond Program, and series 2004-1, 2005-1, and 2006-1 issued under that program. Today's rating actions follow a review by Standard & Poor's of Bank of Scotland PLC's social housing covered bond program. The first series closed in December 2004 with an initial issue of -500 million. There have been two other issues of -500 million each: one in 2005 and one in 2006. The collateral pool assets are all secured loans made to U.K. housing associations, which are not-for-profit organizations. A small percentage of the security pool comprises loans to funding subsidiaries of...
Companies mentioned in this report are: Bank of Scotland PLC Covered Bond Programme
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Bank of Scotland PLC Covered Bond Programme