Moody's: Strong 1Q12 U.K. Covered Bond Issuance Credit Positive

Sterling covered bond volume has been quite high beginning in 2012. Public placement volumes are already more than the levels seen in any previous year, Moody's Investors Service said in a new special comment published today.

Exceeding £11 billion, issuance was close to double that seen last year, which is the year with the previous highest volume, according to the rating agency.