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Fitch gives CBA covered bonds AAA
Fitch Ratings said it rated Commonwealth Bank of Australia's series 91of €1.25 billion of mortgage covered bonds AAA. This issuance brings CBA's total outstanding covered bonds to A$26.3 billion. The fixed-rate bonds are due in February 2028 and benefit from a 12-month extendable maturity.
The AAA rating is based on CBA's A+ long-term issuer default rating, the various uplifts above the IDR granted to the program and the overcollateralization protection provided through the program’s asset percentage.
The outlook is stable.
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