...+ The boards of CYBG PLC and Virgin Money Holdings (UK) PLC have announced the terms of a recommended all-share offer to be made by CYBG for Virgin Money. + We are affirming the '###-/A-3' long- and short-term issuer credit ratings on the bank nonoperating holding company, CYBG PLC. + We are also affirming our '###+/A-2' long- and short-term issuer credit ratings on Clydesdale Bank PLC, the main operating bank of CYBG. + The stable outlook reflects our expectation that CYBG's management will manage to smoothly integrate Virgin Money--which complements the existing product range and geographic reach of CYBG--and work toward its planned cost synergies. LONDON (S&P Global Ratings) June 22, 2018--S&P Global Ratings said today that it affirmed its '###-/A-3' long- and short-term issuer credit ratings on U.K.-incorporated bank nonoperating holding company CYBG PLC. The outlook is stable. At the same time, we affirmed our '###+/A-2' ratings on the main operating bank, Clydesdale Bank PLC. The...
