Tuesday, Sep 16, 2008
Bradford & Bungle......against the wall?
mortgagestrategy: Moody's downgrades ''weakly capitalised'' B&B
Bradford & Bingley has been downgraded by Moody’s Investors Services in the face of weak capital and a dependence on funding from the Bank of England....Another area of concern for Moody’s is that 85% of B&B’s loan book is focussed in buy-to-let and self-cert. The ratings agency says the quality of the loans within these sectors has deteriorated much more quickly than similar asset classes held with rival lenders. Also - see share price decline at http://uk.finance.yahoo.com/q/bc?s=BB.L&t=1y
Posted by whostolemyendowment @ 05:19 PM (144 views) Add Comment
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