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Fitch rates Komercni banka bond AAA
Fitch Ratings said it assigned Komercni Banka’s inaugural €500 million fixed-rate five-year mortgage covered bond an expected AAA rating. The bond has a 12-month soft bullet feature.
Fitch said the bond will be a senior unsecured obligation of Komercni and will be secured by a dynamic pool of Czech residential mortgage loans.
The bonds are rated five notches above the bank’s issuer rating. The uplift is out of a maximum achievable of eight notches, consisting of a resolution uplift of two notches, a payment continuity uplift of five notches and a recovery uplift of one notch, the agency said.
The outlook is stable.
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