Moody's Assigns Ba2 Ratings to Waverose Finance Project Bonds Backed by Bitcoin Collateral

Moody's has provisionally assigned Ba2 ratings to Waverose Finance Project bonds, which are backed by a loan secured with Bitcoin collateral. According to NS3.AI, the collateral has been stressed at 72.06% of its market value. The bond structure begins with a collateral coverage ratio of 1.60x and mandates action if the coverage drops to 1.40x.