OREANDA-NEWS. Fitch Ratings has reviewed its mortgage refinancing stress assumptions for countries with covered bonds rated by the agency. The rating spread levels (RSLs) remain unchanged and there is no rating impact on existing covered bond programmes.

The RSL assumptions are used to derive the stressed value of the cover pool, should the source of covered bond payments switch to the cover pool.

There have been no changes made to the agency's mortgage liquidity and refinancing stress criteria addendum published on 6 July 2015. The updated excel file is available on www.fitchratings.com or by clicking on the link above.

Mortgage RSLs for pools originated in the peripheral European countries, Singapore and South Korea were separately reviewed by the agency in June 2015.