Fitch places Piraeus Bank’s B+ bond rating on RWE

Fitch Ratings has placed Piraeus Bank’s mortgage-covered bonds’ B+ rating on Rating Watch Evolving (RWE).

The rating action follows the segregation of new assets that the issuer put into the cover pool last week.

The loans added to the cover pool have been originated by several banks acquired recently by the issuer and to date no historical performance data with regard to the new originators have been provided.