Moody’s changes Nationwide Building view

Moody’s Investors Service said it affirmed the Aa3 long-term deposit and senior unsecured debt ratings of Nationwide Building Society and changed the outlooks to negative from stable.

Moody's also affirmed Nationwide's Baa1 junior senior unsecured and subordinate debt ratings, the Aa2(cr) long-term counterparty risk assessment, and the Aa2 long-term counterparty risk ratings.

The agency said the action reflects an expected loss-given-failure for Nationwide's deposit and senior debt.

Moody's said it affirmed the ratings to reflect its unchanged assessment of a moderate probability of support from the U.K. government.

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