CYBG PLC Moody's Rating Update (0690O)
February 04 2016 - 4:07AM
UK Regulatory
TIDMCYBG
RNS Number : 0690O
CYBG PLC
04 February 2016
4 February 2016
To: London Stock Exchange
CYBG PLC Announcement re Moody's Rating Update
Today Moody's Investors Service (Moody's) issued a Press Release
concluding the review of the Clydesdale Bank PLC (the Bank) Ratings
initiated on June 5, 2015.
Moody's have upgraded the Bank's standalone Baseline Credit
Assessment (BCA) to baa3 from ba1, whilst downgrading the Bank's
Long Term Deposit Rating to Baa2 from Baa1 with a Stable outlook.
The Short Term Deposit Rating was affirmed at Prime-2 (P-2) while
the Commercial Paper Rating was downgraded to Prime-3 (P-3) from
Prime-2. Concurrently, Moody's affirmed the bank's long-term and
short-term Counterparty Risk Assessment (CR Assessment) at
A3(cr)/P-2(cr).
CYBG PLC (CYBG) welcomes the upgrade of its standalone BCA
reflecting the improved credit fundamentals following the
finalisation of the demerger.
As announced on 2 February 2016 CYBG does not consider the
downgrade of the Long Term Deposit and Commercial Paper Rating to
have any material impact on its or the Bank's ability to raise
funding, the overall cost of funding, or the financial outlook for
CYBG or the Bank.
Enquiries:
Investors and Analysts
John Crosse + 44 (0)7917 172535
Head of Investor Relations john.crosse@cybg.com
Media
Barry Gardner + 44 (0) 800 066 5998
Media Relations Director barry.gardner@cybg.com
This information is provided by RNS
The company news service from the London Stock Exchange
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