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Prospect News home > News index > List of issuers C > Headlines for Co-operative Bank plc > News item |
Fitch ups Co-operative Bank
Fitch Ratings said it upgraded the Co-operative Bank plc's long-term issuer default rating to B from B- and removed it from Rating Watch negative.
Fitch also affirmed the bank's viability rating at b- and short-term IDR at B.
The outlook on the long-term IDR is negative.
“The upgrade of the IDR reflects Fitch's view that the issuance by the Co-operative Bank's holding company parent, the Co-operative Bank Finance plc, of £200 million of senior debt in November 2020, provides an additional layer of protection to the bank's senior creditors in the case of failure of the bank,” Fitch said in a news release.
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