| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers L > Headlines for Liverpool Victoria Financial Services Ltd. > News item |
S&P gives BB+ to LV Bonds
S&P said it affirmed its BB+ long-term issue rating on the subordinated notes issued by Liverpool Victoria Financial Services Ltd. that have been transferred to the newly incorporated LV Bonds plc, a wholly owned subsidiary of LVFS.
LV Bonds assumed the obligations of the mutual's remaining £200 million subordinated debt, originally sold by LVFS in 2013. At the same time, LVFS agreed to guarantee on a subordinated basis the obligations of LV Bonds under the notes.
LV Bonds also entered into a loan agreement with LVFS for the same amount, which obtained regulatory approval as tier 2 capital.
The outlook remains stable.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.