Moody's on Aug. 9 affirmed Skipton Building Society's Baa1 senior unsecured debt and long-term deposit ratings and revised the outlook on the ratings to positive from stable.

The rating agency also affirmed the company's Prime-2 short-term deposit rating, "baa1" baseline and adjusted baseline credit assessments, A1 (cr)/P-1 (cr) long- and short-term counterparty risk assessments and A2/P-1 counterparty risk ratings.

Moody's said the outlook revision reflects the positive momentum in Skipton's asset risk reduction and risk-adjusted capitalization improvement.