Nationwide Building Society Upgraded To 'A+' On Resilience And Supporting U.K. Environment; Outlook Stable

Nationwide has built a strong foundation for its performance in the past 12 months by reducing costs, writing profitable new business, and maintaining strong asset quality. The group continues to operate with significant buffers of capital and other loss-absorbing instruments, further supporting our rating. We raised our long-term issuer credit rating on Nationwide to 'A+'. We also raised our long- and short-term resolution counterparty ratings on Nationwide to 'AA-/A-1+', and we raised our issue rating on the group's senior unsecured debt to 'A+'. The stable outlook reflects our expectation of continued resilient operating performance and stable asset quality. LONDON (S&P Global Ratings) Oct. 29, 2021--S&P Global Ratings today raised its long-term issuer credit rating on Nationwide Building Society to 'A+'.

...October 29, 2021 - Nationwide has built a strong foundation for its performance in the past 12 months by reducing costs, writing profitable new business, and maintaining strong asset quality. - The group continues to operate with significant buffers of capital and other loss-absorbing instruments, further supporting our rating. - We raised our long-term issuer credit rating on Nationwide to 'A+'. We also raised our long- and short-term resolution counterparty ratings on Nationwide to '##-/A-1+', and we raised our issue rating on the group's senior unsecured debt to 'A+'. - The stable outlook reflects our expectation of continued resilient operating performance and stable asset quality. LONDON (S&P Global Ratings) Oct. 29, 2021--S&P Global Ratings today raised its long-term issuer credit rating on Nationwide Building Society to 'A+'. The outlook is stable. At the same time, we raised the long- and short-term resolution counterparty ratings on Nationwide to '##-/A-1+' and we raised our issue...

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