Fitch Affirms Nationwide Building Society at 'A'; Stable Outlook

Fitch Ratings has affirmed Nationwide Building Society's Long-Term Issuer Default Rating (IDR) at 'A' with a Stable Outlook and Viability Rating (VR) at 'a'. The ratings reflect Nationwide's stable, low-risk business model focused on residential mortgage loans. The acquisition of Virgin Money UK PLC (VMUK) has consolidated Nationwide's market position but integration costs are weighing on profitability. Fitch has also upgraded the VRs of VMUK and Clydesdale Bank plc to 'a', reflecting high integration with Nationwide.