28.10.2015 11:47:00
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Moody's: No rating impact on Barclays' mortgage covered bond ratings, after swap novation
London, 28 October 2015 -- Moody's Investors Service has announced today that the novation of the covered bond obligations of Barclays Bank PLC (Barclays; senior unsecured A2 stable, adjusted baseline credit assessment (BCA) baa2, Counterparty Risk (CR) Assessment A1(cr)) under the Series 2010-4 N covered bond swap to National Australia Bank Limited (senior unsecured Aa2, adjusted BCA a1) would not, in and of itself and as of this time, result in the downgrade or withdrawal of the Aaa ratings on the mortgage covered bonds issued by Barclays.