Moody’s rates Adam and Co. A2

Moody's Investors Service said it assigned a long-term issuer rating of A2, with a stable outlook, to Adam and Co. plc.

The bank's existing long-term and short-term deposit ratings are A1 stable and Prime-1, respectively.

"We expect Adam & Co to benefit from good and stable profits from retail and business banking activities, underpinned by the bank's strong franchise, despite potential profitability challenges deriving from losses on its residual legacy assets and weakening operating conditions in the UK," Moody’s senior vice president Alessandro Roccati said in a news release.

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