Principality Building Society -- Moody's upgrades Principality Building Society to Baa3; positive outlook

London, 03 November 2014 -- Moody's Investors Service (Moody's) has today upgraded Principality Building Society's (Principality) deposit and senior unsecured ratings to Baa3 from Ba1. Principality's short-term ratings were upgraded to Prime-3 from Not-Prime. Moody's affirmed Principality's D+ Bank Financial Strength Rating (BFSR) and raised its standalone baseline credit assessment (BCA) to baa3 from ba1. At the same time, Moody's upgraded Principality's subordinated debt to Ba1 from Ba2 and its junior subordinated debt to Ba3 (hyb) from B1 (hyb). The outlook on the society's BFSR and long-term ratings has been changed to positive from stable.

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