Moody’s downgrades building societies to near junk-bond status
Ratings agency Moody’s have downgraded several building societies due to concerns they will be hit by losses due to the housing market slump.The building societies that have been downgraded include Chelsea Building Society, downgraded from a C to E+, while West Bromwich has fallen from C- to E+.Furthermore, Britannia, Newcastle, Norwich and Peterborough, Principality, Skipton, [...]
Moody’s downgrades building societies to near junk-bond status
