Nationwide Building Society Global Covered Bond Programme Ratings Affirmed At 'AAA'; Outlook Stable

We have reviewed Nationwide Building Society Global Covered Bond Programme under our updated counterparty criteria. Following our review, we have affirmed our 'AAA' ratings on the covered bond program and related issuances. The outlook is stable. LONDON (S&P Global Ratings) Sept. 3, 2019--S&P Global Ratings today affirmed its 'AAA' credit ratings on Nationwide Building Society Global Covered Bond Programme. The outlook is stable. On March 8, 2019, we published our criteria for analyzing counterparty risk in structured finance transactions (see "Counterparty Risk Framework: Methodology And Assumptions," published on March 8, 2019). As a consequence, we placed under criteria observation the ratings on the programs that could potentially be affected (see "Ratings Placed Under Criteria Observation Due To Revised Counterparty Risk

...- We have reviewed Nationwide Building Society Global Covered Bond Programme under our updated counterparty criteria. - Following our review, we have affirmed our '###' ratings on the covered bond program and related issuances. The outlook is stable. LONDON (S&P Global Ratings) Sept. 3, 2019--S&P Global Ratings today affirmed its '###' credit ratings on Nationwide Building Society Global Covered Bond Programme. The outlook is stable. On March 8, 2019, we published our criteria for analyzing counterparty risk in structured finance transactions (see "Counterparty Risk Framework: Methodology And Assumptions," published on March 8, 2019). As a consequence, we placed under criteria observation the ratings on the programs that could potentially be affected (see "Ratings Placed Under Criteria Observation Due To Revised Counterparty Risk Criteria," published on March 8, 2019). Following our review, our ratings on this covered bond program are no longer under criteria observation. Nationwide Building...

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