Fitch revises Bank of Cyprus covered bonds’ outlook to positive, affirms at ‘A’

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Fitch revises Bank of Cyprus covered bonds’...
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Fitch Ratings has on Wednesday revised Bank of Cyprus Public Company Limited’s (BoC, B-/Positive/B) conditional pass-through (CPT) mortgage covered bonds’ outlook to positive from stable and affirmed the rating at ‘A’.

The rating action follows the outlook revision to positive on Cyprus’s Long-Term Foreign-Currency Issuer Default Rating (IDR)  dated October 11, 2019.

According to Fitch, the positive outlook mirrors that on Cyprus’ IDR. It also takes into account the unused notches in terms of uplift factors applicable to the programme rating and...


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Fitch revises Bank of Cyprus covered bonds’ outlook to positive, affirms at ‘A’


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