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DBRS rates Banca Monte dei Paschi bonds A
DBRS said it assigned an A rating to series 40 of the obbligazioni bancarie garantite (the Italian legislative covered bonds) issued under the Banca Monte dei Paschi di Siena SpA’s €20 billion covered bond program guaranteed by MPS Covered Bond 2 Srl.
Series 40 is a €700 million floating-rate bond indexed to three-month Euribor plus a margin of 0.30%, maturing in July 2024.
As with all other series, series 40 will benefit from a maturity extension to the long due for payment date of Dec. 31, 2057, the agency said.
Simultaneously, DBRS discontinued its rating on series 25, which reached its final maturity on Oct. 29.
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