Friday January 11, 01:58 PM
Leeds Building Society rated 'A/F1' with stable outlook - Fitch
MUMBAI (Thomson Financial) - Fitch Ratings assigned Leeds Building Society (LBS) ratings of long-term issuer default (IDR) 'A' with stable outlook, short-term IDR 'F1' and individual 'B'.
The agency has affirmed its support rating at '3' and assigned a support rating floor 'BB'. Its senior unsecured notes are assigned at 'A+', one notch above the IDR.
The IDRs and individual rating of LBS reflect its solid capital base, good level of earnings, low costs and small credit risk, Fitch said. They also reflect its moderate size, contained franchise and limited diversification; this means that potential for upgrades is modest.
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