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Fitch rates BNZ bonds AAA
Fitch Ratings said it gave an AAA rating to the Bank of New Zealand’s €750 million of series 14 fixed-rate mortgage covered bonds.
“The covered bond rating is based on BNZ's long-term issuer default rating (IDR), the various uplifts above the IDR granted to the program and the over-collateralization (OC) protection provided through the program’s asset percentage (AP),” the agency said in a press release.
The outlook is stable.
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