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Bradford & Bingley cut from C+ to C by Moody's
worldtraveller
Posts: 14,013 Forumite
THE buy-to-let mortgage specialist Bradford & Bingley has had a key credit-rating cut by Moody’s, amid a sharp jump in the number of customers falling behind with repayments.
B&B’s “bank financial strength rating” (BFSR) has been cut by the agency from C+ to C, with warnings of further downgrades to come.
The ratings agency describes the BFSR as “a measure of the likelihood that a bank will require assistance from third parties such as its owners, its industry group or official institutions”.
If the rating were cut one more notch, the Moody’s definitions suggest the bank could potentially require support from the Bank of England.
The Sunday Times
B&B’s “bank financial strength rating” (BFSR) has been cut by the agency from C+ to C, with warnings of further downgrades to come.
The ratings agency describes the BFSR as “a measure of the likelihood that a bank will require assistance from third parties such as its owners, its industry group or official institutions”.
If the rating were cut one more notch, the Moody’s definitions suggest the bank could potentially require support from the Bank of England.
The Sunday Times
There is a pleasure in the pathless woods, There is a rapture on the lonely shore, There is society, where none intrudes, By the deep sea, and music in its roar: I love not man the less, but Nature more...
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Ive seen this posted on a few other forums, if these guys go under the man in the street is going to see that BTL is dead in the water for the neby investors. I expect seasoned Landlords will be waiting in the wings to purchase cheap properties for cash.0
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