Five societies downgraded by Fitch

Jones, Lee
May 2009
Money Marketing;5/28/2009, p7
The article reports on the move of Fitch Ratings Ltd. to downgrade Chelsea, West Bromwich, Yorkshire, Principality and Newcastle building societies in Great Britain. According to the article, the move follows a downgrade of similar societies by Moody along with Britannia, Coventry, and Skipton. Fitch's senior director Matthew Taylor stated that the firm's concerns are focused on higher-risk lending by societies.


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