Moody's downgrades Moorland's covered bonds to Baa3 following downgrade of Co-Operative Bank Plc
London, 16 February 2017-- Moody's Investors Service, has today downgraded to Baa3 from Baa1 the ratings of the mortgage covered bonds issued by Co-Operative Bank Plc. The covered bonds are issued under Co-Op's Moorland Covered Bond Programme and Co-Op is the underlying institution supporting these covered bonds. This action follows the downgrade of Co-Op's counterparty risk assessments to Caa1 from B2.
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