Home Credit Ratings and Research Residential Mortgage-Backed Securities S&P Global Ratings’ Credit Research Nationwide Building Society

Nationwide Building Society

Published Aug 13, 2014

5604 words — Published Aug 13, 2014

Price US$ 500.00 | Buy this Report Now

About This Report

Abstract:

Strongly performing prime residential mortgages represent 72% of the net loan book. Strong U.K. deposit and mortgage franchises, with an improving market position in personal current accounts. Improving earnings prospects. Weakly performing commercial real estate loan book. Concentrated exposure to the leveraged U.K. household sector. Retail credit growth is quite brisk. The negative outlook on Nationwide Building Society reflects Standard&Poor's Ratings Services' view that it may lower the long-term counterparty credit rating by up to two notches by year-end 2015 if it considers that extraordinary government support is less predictable under the new EU legislative framework (The EU Bank Recovery and Resolution Directive). The ratings are chiefly based on these potential changes in government support and our view

Brief Excerpt:

RESEARCH Nationwide Building Society Publication date: 13-Aug-2014 Primary Credit Analyst: Nigel Greenwood, London (44) 20-7176-7211; nigel.greenwood@standardandpoors.com Secondary Contact: Alexandre Birry, London (44) 20-7176-7108;...

Report Type:

Full Report

Ticker

1250Z@LN

Issuer

Nationwide Building Society

GICS

Thrifts & Mortgage Finance (40102010)

Sector

Global Issuers, Structured Finance

Country

United Kingdom

Region

Europe, Middle East, Africa

Format:

HTML

Summary: Nationwide Building Society – 2015/02/16 – US$ 225.00

Research Update: Nationwide Building Society Ratings Affirmed On Government Support Review, ALAC Criteria Implementation; Outlook Stable – 2015/06/09 – US$ 225.00

Nationwide Building Society – 2015/08/06 – US$ 500.00

Summary: Nationwide Building Society – 2015/08/06 – US$ 225.00

Nationwide Building Society 'A/A-1' Ratings Affirmed On Improving Capitalization And Steady Prospects; Outlook Stable – 2016/01/19 – US$ 150.00

Summary: Nationwide Building Society – 2014/08/13 – US$ 225.00

Research Update: Nationwide Building Society 'A/A-1' Ratings Affirmed On Stabilization Of U.K. Banking Industry Risk; Outlook Negative – 2014/05/22 – US$ 225.00

Research Update: Nationwide Building Society Ratings Affirmed At 'A/A-1' Following Government Support Review; Outlook Remains Negative – 2014/04/30 – US$ 225.00

Nationwide's Proposed Perpetual Contingent Convertible Additional Tier 1 Capital Securities Assigned 'BB+' Rating – 2014/02/28 – US$ 150.00

Nationwide Building Society – 2014/01/20 – US$ 500.00

More from S&P Global Ratings’ Credit Research

S&P Global Ratings’ Credit Research—S&P Global Ratings’ credit research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P Global Ratings also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.

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Cite this Report


MLA:	S&P Global Ratings’ Credit Research. "Nationwide Building Society" Aug 13, 2014. Alacra Store. May 05, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Nationwide-Building-Society-1353086>

APA:	S&P Global Ratings’ Credit Research. (). Nationwide Building Society Aug 13, 2014. New York, NY: Alacra Store. Retrieved May 05, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Nationwide-Building-Society-1353086>

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