Moody's rates Scotiabank bonds Aaa

Moody's Investors Service said it assigned a provisional Aaa rating to the series CBL4 covered bonds issued by Bank of Nova Scotia under its $15 billion global registered covered bond program.

The agency said the rating reflects the credit strength of Bank of Nova Scotia and the value of the cover pool following a CB anchor event. The stressed level of losses on the cover pool assets following a CB anchor event (cover pool losses) for this transaction is 15.42%, according to Moody’s.

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