Fitch keeps CYBG, Virgin Money on review

Fitch Ratings said it maintained CYBG plc and Virgin Money Holdings (UK) plc's BBB+ long-term issuer default ratings on rating watch negative.

Fitch also maintained Clydesdale Bank plc and Virgin Money plc's A- long-term issuer default ratings on rating watch negative.

At the same time Fitch affirmed Clydesdale Bank’s and Virgin Money’s viability ratings at bbb+.

Fitch previously placed the ratings on negative watch to reflect the heightened uncertainty over the ultimate outcome of the United Kingdom's exit from the European Union and the increased risk that a disruptive no-deal Brexit could result in negative action on U.K. banks, most likely with negative outlooks being assigned.

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