Moody's ups Banco BPI covered bonds

Moody's Investors Service said it upgraded to Aa3 from A1 on review for upgrade the ratings of the public sector covered bonds issued by Banco BPI SA.

“Today´s rating upgrade follows Moody´s assessment of the issuer´s capacity and willingness to maintain the current level of over-collateralization (OC) in the program, which is a level sufficient to reach an Aa3 rating,” the agency said in a press release.

Moody’s put the bond rating on review for upgrade on Sept. 21.

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