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Moody's downgrades Unicredit's covered bonds

Moody's Investor Service on Wednesday said it downgraded mortgage covered bonds of Hungary's UniCredit Mortgage Bank to A3 from A1 and put them on review for possible downgrade.

Moody's attributed the downgrade to the deterioration of the credit strength of UniCredit Mortgage Bank and the current structure of its issue program. (MTI-ECONEWS)