Moody’s assigns Co-operative Bank notes Caa1

Moody’s Investors Service said it assigned a provisional (P)Caa1 rating to the planned £200 million senior unsecured notes that will be issued by the Co-operative Bank Finance plc. The issuer is the holding company of Co-operative Bank plc.

Moody’s said the successful issuance of the bond would provide a higher subordination for Co-operative Bank’s counterparty obligations, contractual commitments and operating obligations.

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