Banca Nazionale del Lavoro S.p.A. Covered Bonds (OBG - Mortgages): Surveillance Report
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Summary
On 16 December 2021, DBRS Ratings GmbH (DBRS Morningstar) confirmed its AA (low) ratings on the Obbligazioni Bancarie Garantite (OBG; the Italian legislative covered bonds) issued under the Banca Nazionale del Lavoro S.p.A. Covered Bonds Programme (the Programme). This rating action follows the completion of a full review of the Programme.