Obbligazioni perpetue e subordinate Tutto quello che avreste sempre voluto sapere sulle obbligazioni perpetue... - Cap. 2 (2 lettori)

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fabriziof

Forumer storico
very important ,dal report di moodys
Moody's downgraded to Baa3(hyb) from Baa2(hyb) the debt rating of the EUR400 million Tier 2 Notes due 2041 and of the CHF105 million perpetual Tier 2 notes issued by SRLEV N.V., reflecting the one notch downgrade of SRLEV's IFSR. Moody's also downgraded to Ba3(hyb) from Ba2(hyb) the rating of the EUR250 million 6.258% capital securities issued by SNS REAAL N.V., reflecting the one notch downgrade of SNS REAAL's senior debt rating. These ratings were assigned a negative outlook to reflect the low to moderate risk of a coupon skip requested by the European Commission (EC), as the securities allows SRLEV and SNS REAAL to defer interest payments at any time.
Although Moody's notes that the EC has not requested that SNS REAAL defers any coupon on its hybrid securities, including those allowing for optional deferral, when it approved the capital support provided by the Dutch State to the Group in 2008, Moody's believes that this political risk will persist as long as the Group has not fully repaid the State Aid.
 

domes

Forumer attivo
very important ,dal report di moodys
Moody's downgraded to Baa3(hyb) from Baa2(hyb) the debt rating of the EUR400 million Tier 2 Notes due 2041 and of the CHF105 million perpetual Tier 2 notes issued by SRLEV N.V., reflecting the one notch downgrade of SRLEV's IFSR. Moody's also downgraded to Ba3(hyb) from Ba2(hyb) the rating of the EUR250 million 6.258% capital securities issued by SNS REAAL N.V., reflecting the one notch downgrade of SNS REAAL's senior debt rating. These ratings were assigned a negative outlook to reflect the low to moderate risk of a coupon skip requested by the European Commission (EC), as the securities allows SRLEV and SNS REAAL to defer interest payments at any time.
Although Moody's notes that the EC has not requested that SNS REAAL defers any coupon on its hybrid securities, including those allowing for optional deferral, when it approved the capital support provided by the Dutch State to the Group in 2008, Moody's believes that this political risk will persist as long as the Group has not fully repaid the State Aid.

tutte cose che si sapevano, nessuna novita'
il sell-off probabilmente dovuto a chi sapeva, che ha venduto per ricomprare piu' in basso, molto piu' in basso

strano poi che non si faccia nessuna menzione alla 523 in capo a SNSBANK
 

Zorba

Bos 4 Mod
The following ratings have been downgraded and assigned a negative outlook:
- SNS REAAL N.V.EUR250 million 6.258% capital securities (XS0310904155) -- preferred stock rating to Ba3(hyb) from Ba2(hyb);
- SRLEV N.V.EUR400 million Tier 2 Notes (XS0616936372) -- subordinated debt rating to Baa3(hyb) from Baa2(hyb);
- SRLEV N.V.CHF105 million (CH0130249581) -- perpetual junior subordinated debt rating to Baa3(hyb) from Baa2(hyb).

Non capisco la discesa dei prezzi a 40. Ba3 è un rating migliore di quello che hanno T1 di Banco Pop, MPS. E' lo stesso di UBI. I T1 di UCG sono Ba2 (un solo notch sopra).

L'outlook è stabile per la banca, ma è negativo per gli ibridi (come per tutte le banche olandesi, inclusa Rabo)
 

bulogna

Forumer storico
Non capisco la discesa dei prezzi a 40. Ba3 è un rating migliore di quello che hanno T1 di Banco Pop, MPS. E' lo stesso di UBI. I T1 di UCG sono Ba2 (un solo notch sopra).

L'outlook è stabile per la banca, ma è negativo per gli ibridi (come per tutte le banche olandesi, inclusa Rabo)

Siamo alle solite: o qualcuno sà qualcosa che non sappiamo o è semplicemente movimento irregolare del mercato (speculazione)
 
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