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Moody's rates Bank of Montreal covered bonds Aaa
Moody's Investors Service said it assigned the definitive long-term rating of Aaa to the $2 billion series 5 covered bonds issued by Bank of Montreal under the terms of its global public sector covered bond program.
Moody's said the covered bonds are obligations of Bank of Montreal and are also backed by a cover pool consisting of Canadian residential mortgage loans insured by the Canada Mortgage and Housing Corp. and eligible substitute assets.
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