How COVID-19 Will Change Covered Bonds

14 July 2020

While fiscal and monetary responses to the COVID-19 pandemic have headed off a liquidity crisis, they may have weakened credit quality by increasing overall indebtedness. In this report, S&P Global Ratings analyzes how the pandemic and the policy response to fight it will affect the covered bond market. In our opinion, residential mortgage market performance should generally be better than in recent crises due to support measures for workers and the expected limited correction in house prices.


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