Thursday, April 29, 2010

ALERT: Moody's Downgrades Greek Covered Bonds



Moody's has announced that it cut ratings on the covered bonds issued by Greek banks. Covered bonds are similar to mortgage-backed securities but unlike MBS are backed by the issuer.

Moody's Investors Service has also announced that it is still reviewing Greece's sovereign ratings, as well as those of the National Bank of Greece , Alpha Bank and EFG Eurobank, for possible downgrades.

1 comment:

  1. Covered bonds is the way Geithner wants to go with Fannie Mae & Freddie Mac.