Fitch rates Yorkshire Building notes A-

Fitch Ratings said it assigned a long-term rating of A- to Yorkshire Building Society's inaugural statutory senior non-preferred debt.

The notes have been issued under the society's existing £5 billion medium-term notes program.

The company's other ratings are not affected by this action, the agency noted.

The notes are rated in line with the company's long-term issuer default rating, which is based on its viability rating and reflects the society's conservative underwriting standards, healthy asset quality indicators, capitalization and leverage commensurate with the society's risk profile and a stable funding and liquidity profile, Fitch said.

The ratings also consider the modest franchise, undiversified business model and slightly weaker profitability compared with peers, the agency said.

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