Moody's alters Capital One view to stable

Moody's Investors Service said it changed the outlooks to stable from negative and affirmed the ratings of Capital One Financial Corp. and its bank subsidiaries, Capital One, NA and Capital One Bank (USA), NA, Capital One Financial's senior long-term unsecured debt is rated Baa1 and the bank subsidiaries have long-term senior unsecured debt ratings of Baa1.

“The outlooks on both CapOne and the bank subsidiaries were changed to stable from negative, reflecting Moody's assessment that the firm will continue to generate solid profitability and the deterioration in asset quality, driven by the still elevated rate of unemployment in the US will be modest, over the next 12-18 months,” the agency said in a press release.

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