Fitchmaintains BoC's covered bonds on Rating Watch Negative

Fitch Ratings says it is maintaining Bank of Cyprus covered bonds - rated 'B' - on Rating Watch Negative (RWN).

"The covered bonds remain on RWN pending Fitch's review of the impact of the current economic environment on the performance of the residential mortgage portfolio", the rating agency said recently in a statement. Furthermore, Fitch said is still assessing the impact of the recapitalisation plan on the bank`s rating.