Fitch lifts Virgin Money view to positive

Fitch Ratings said it revised Virgin Money plc’s outlook to positive from stable.

The company’s long-term issuer default rating was affirmed at BBB+ and its viability rating at BBB+.

As the company grows and diversifies its business and as its profitability continues to improve, Fitch said its long-term issuer default rating could be upgraded to A- over the next 12- to 18-months.

This assumes that the bank continues to maintain its growth well within its conservative risk appetite and planned capital trajectory, the agency said.

The ratings also consider the bank’s well-managed low risk profile, healthy asset quality, improving profitability and adequate liquidity, Fitch said.

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