S&P affirms Adam

S&P said it affirmed the preliminary BBB+/A-2 long- and short-term issuer credit ratings on Adam and Co. plc.

The outlook remains positive.

Royal Bank of Scotland Group plc plans to complete the formal separation of its banking operations under the United Kingdom’s ring-fencing regime by mid-2018.

The agency said it understands that as part of the separation, the group plans to transfer the majority of existing personal, private, business and commercial banking activities of the Royal Bank of Scotland plc to Adam.

Subsequently, Adam will be renamed RBS plc, and the current RBS will be renamed NatWest Markets plc, and will house the group's corporate and investment banking activities.

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