Moody's Has Assigned Definitive Aaa Rating To Skipton Building Society

– Moody's Investor's Service has assigned Skipton Building Society's mortgage covered bonds a definitive Aaa long-term rating.

In the announcement, a covered bond said to be benefitting from the issuer's promise to pay interest and principal on the bonds and following a CB anchor event, the economic benefit of a collateral pool, Moody's has declared that the ratings represent the following factors: "The credit strength of Skipton Building Society (deposits Baa1 stable; adjusted baseline credit assessment baa1; counterparty risk (CR) assessment A1(cr)) and a CB anchor of CR assesment plus 1 notch.

Following a CB anchor event the value of a cover pool. The stresses level of losses on the cover pool assest following a CB anchor event (cover pool losses) for this transaction is 14.6 percent." - İstanbul