trending Market Intelligence /marketintelligence/en/news-insights/trending/EO62NUkJOWovS2C-Ywm6nA2 content esgSubNav
In This List

Moody's upgrades Principality Building Society

Podcast

Street Talk | Episode 94: Recessionary fears in ’22 overblown, Fed could overtighten

Blog

Insight Weekly: Ukraine war impact on mining; US bank growth slowdown; cloud computing headwinds

Blog

Investment Banking Essentials Newsletter April Edition - 2022

Blog

Banking Essentials Newsletter April Edition - 2022


Moody's upgrades Principality Building Society

Moody's upgraded Principality Building Society's long- and short-term counterparty risk assessments to A2(cr)/P-1(cr) from A3(cr)/P-2(cr).

The agency affirmed the company's long- and short-term bank deposits at Baa2/P-2, with a stable outlook on the long-term rating.

At the same time, Moody's assigned a Baa2 rating, with a stable outlook, to the £300 million senior unsecured bond that Principality Building Society plans to issue on Nov. 23, with proceeds to be used for financing growth and boosting liquidity buffers. The upgrade reflects the increased subordination that will protect the firm's counterparty obligations following the issuance.