Moody's affirms Nationwide

Moody's Investors Service said it changed the outlook on the C- bank financial strength ratings of Nationwide Building Society to stable from negative while the debt/deposit and BFSR ratings of Aa3/P-1/C- were affirmed.

The stand alone C- bank rating maps to Baa2 on the long-term scale, the agency said

All other ratings including the subordinated ratings of Baa3 and Ba2 were affirmed with a stable outlook, Moody's noted.

Moody's said that the stabilization of the outlook reflects its expectation that Nationwide's asset quality and earnings decline may have reached their bottom.

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