Moody's Publishes In-Depth "Approach to Rating Covered Bonds"

In its first material revision since 2005, Moody's Investors Service has released an in-depth description of its methodology for covered bond ratings (March 4).  According to Moody's, the document "brings together for the first time in a single publication the various elements of the methodology, some of which have been the subject of separate publications over the last five years."

After a two-page introduction and summary of covered bond methodology, the remainder of the 16-page document consists of appendices on topics such as collateral scores, refinancing margins, and so forth.

An accompanying media release notes that "no ratings [are] impacted" by the methodology document.

To download a PDF of "Moody's Approach to Rating Covered Bonds," first log in (free) at www.moodys.com, then click here. 

To read Moody's media release on this topic, first log in (free) at www.moodys.com, then click here.