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Fitch revises outlook on Virgin Money's rating

Fitch Ratings on Oct. 3 revised the outlook on 's long-termissuer default rating to stable from positive and affirmed it at BBB+.

At the same time, the agency affirmed the Virgin Money Holdings (UK) Plc unit's short-term issuerdefault rating at F2, its support rating at 5 and its viability rating at"bbb+".

The outlook revision reflects the agency's view of increasedpressure on the bank's planned growth and diversification. Fitch noted that theresults of the EU referendum will likely result in a slowdown in economicgrowth over the next two years, which could result in slowing business volumegrowth at Virgin Money and reduce its ability to diversify its businessesfurther.