Downgrade sees N&P put Astra on ice

Jones, Lee
June 2009
Money Marketing;6/18/2009, p9
The article reports on the downgrade of Moody's Investors Service Inc. building societies in Great Britain. It states that Norwich & Peterborough (N&P) Building Society's Astra Mortgages was the first to be downgraded by Moody's. According to the article, Moody's reduced the society to a D grade, causing N&P harder access affordable wholesale money. Astra chairman David Jervis said that there was a schock when they were downgraded.


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