London, 28 December 2012 -- Moody's Investors Service has today confirmed the Baa3 ratings of the public-sector covered bonds issued by Banco BPI S.A. (BPI; Ba3 deposits, Negative; BFSR E+/BCA b1, Negative; Not Prime). Today's confirmation was prompted by the current levels and form of over-collateralisation (OC), which are now sufficient to maintain the rating. The above rating action concludes the review of BPI's public-sector covered bond ratings that Moody's initiated on 16 February 2012.
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