24.04.2014 20:49:00
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Moody's: No negative rating impact on Bank of America's covered bond program further to deed of undertaking for swap
New York, April 24, 2014 -- Moody's Investors Service has announced today that Royal Bank of Scotland plc (RBS; deposits Baa1 negative, standalone bank financial strength rating D+/ adjusted baseline credit assessment ba1) has, as the swap provider in Bank of America's covered bond program ("BA Covered Bond Program"), undertaken the proposed execution of a deed of undertaking (the "Deed"). This Deed relates to the swap agreement (the "Swap Agreement") between BA Covered Bond Issuer (the "Issuer") and RBS.