DBRS rates Monte dei Paschi notes AA(l)

DBRS said it assigned an AA(low) credit rating of AA to series 47 of the obbligazioni bancarie garantite (Italian legislative covered bonds) issued under the Banca Monte dei Paschi di Siena SpA €20 billion covered bond program (guaranteed by MPS Covered Bond 2 Srl.

Series 47 is a €600 million fixed bond with a 3.75% coupon due in January 2027.

DBRS said it currently rates all bonds sold under this program AA(low).

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