Moody’s rates Virgin Money Baa3

Moody's Investors Service said it assigned Baa3 long-term issuer ratings and Prime-3 short-term issuer ratings to Virgin Money Holdings plc.

The agency affirmed Virgin Money plc's Baa2 long-term local-currency deposit ratings and changed the outlook to positive from stable.

In addition, Moody’s affirmed the bank's baa2 baseline credit assessment, baa2 adjusted baseline credit assessment, Baa2/Prime-2 long- and short-term issuer ratings, Prime-2 short-term local currency deposit ratings, and A3(cr)/Prime-2(cr) long- and short-term counterparty risk assessment.

The agency said the ratings reflect Virgin Money’s baa2 baseline credit assessment, the results of Moody's advanced loss given failure analysis, and a low probability of government support.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.