Fitch Downgrades Co-op Bank's IDR to 'B-' and VR to 'cc'
(The following statement was released by the rating agency)
LONDON, February 21 (Fitch) Fitch Ratings has downgraded
Co-operative Bank p.l.c.'s (Co-op Bank) Long-Term Issuer Default
Rating (IDR) to
'B-' from 'B' and placed it on Rating Watch Evolving (RWE). The
(VR) was downgraded to 'cc' from 'b'. A full list of rating
actions is at the
end of this rating action commentary.
The downgrade of the VR reflects Fitch's view that a failure of
the bank appears