Business Services Industry
MOODY'S DOWNGRADES NORTHERN ROCK'S SENIOR DEBT AND DEPOSIT RATINGS TO A2, PREFERENCE SHARES DOWNGRADED TO C
Info-Prod Research (Middle East), February, 2008
February 20, 2008Moody's Investors Service announced today that it had downgraded to A2, with a developing outlook, the long-term bank deposits and senior unsecured debt of Northern Rock plc (Northern Rock) following the announcement by HM Treasury on February 17 that the government will enact legislation to take the bank into temporary public ownership.
The bank's preference shares were downgraded to C from B3. The Bank Financial Strength Rating (BFSR) remains E (mapping to a baselinecredit assessment of B1), the outlook is changed to developing from negative. The outlook on the dated subordinated debt (currently rated B1), on the undated subordinated debt (currently rated B3) and on the Reserve Capital Instruments (RCIs) and Tier One Notes (TONs) (currently rated B3) was...
Most Recent Business Articles
- Multiple criteria evaluation and optimization of transportation systems
- Multi-criteria analysis procedure for sustainable mobility evaluation in urban areas
- A two-leveled multi-objective symbiotic evolutionary algorithm for the hub and spoke location problem
- Multi-criteria analysis for evaluating the impacts of intelligent speed adaptation
- The development of Taiwan arterial traffic-adaptive signal control system and its field test: a Taiwan experience
Most Recent Business Publications
Most Popular Business Articles
- 7 tips for effective listening: productive listening does not occur naturally. It requires hard work and practice - Back To Basics - effective listening is a crucial skill for internal auditors
- FAS 109: a primer for non-accountants - Financial Accounting Standards Board's "Statement 109: Accounting for Income Taxes"
- Design a commission plan that drives sales - Sales Commissions
- Too Young to Rent a Car? - 25-years-old the minimum age for car renting - Brief Article
- LIFO vs. FIFO: a return to the basics
