LONDON (Standard&Poor's CreditWire) Jan. 6, 2000--Standard&Poor's today assigned its single-'A'-plus long-term counterparty credit and certificate of deposit ratings to Nationwide Building Society. The outlook is stable. Standard&Poor's also affirmed its 'A-1' short-term ratings. (See list below for all ratings.) Nationwide Building Society's ratings are based on the society's strong position in the U.K. mortgage market, strengthened asset quality and arrears control, better levels of operating efficiency, and good capitalization. Profitability remains satisfactory, despite the dampening effects of a strategy of rewarding members through the competitive pricing of products. This strategy reflects Nationwide's commitment to retaining its mutual status. In July 1998, Nationwide voted to remain mutual. Revised membership conditions introduced in 1997 mean that
