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Fitch ups Royal Bank of Scotland
Fitch Ratings said it upgraded Royal Bank of Scotland Group plc's long-term issuer default rating to A from BBB+, viability rating to a from bbb+ and short-term issuer default rating to F1 from F2.
Fitch also upgraded subsidiaries Royal Bank of Scotland plc and National Westminster Bank plc, including their issuer default ratings to A+ from A- and their viability ratings to a from bbb+.
NatWest Markets plc’s long-term issuer default rating was upgraded to A from BBB+.
The agency said the upgrade reflects a view that the group’s risk profile has improved significantly as the group has progressed with its restructuring and resolved large legacy matters and is now comparable with other rated major U.K. banks'.
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