Global rating agency, Fitch Ratings has assigned
The notes, issued directly through the bank, have a coupon set at 9.25 per cent and expected to mature on
According to Fitch, the notes are subordinated, but there is no contractual non-viability loss absorption such as coupon flexibility, principal loss absorption or equity conversion features.
The agency noted that the
"No additional notches for non-performance risk have been applied. The notes' rating is sensitive to a change in Access's
"In addition, the notching of the rating against the bank's
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