Skipton Building Society’s credit rating has been upgraded by Moody’s from Baa2 to Baa1.
Moody’s noted improvements in the society’s asset quality of the mortgage and savings division due to Skipton’s strong capitalisation and conservative funding position.
David Cutter, Skipton’s group chief executive, said: “This ratings upgrade is very pleasing as we continue to build on the strong performance seen in recent years.
“While continuing to satisfy our ratings agencies, in the last twelve months we’ve grown our customer base, further strengthened our capital position and delivered excellent customer service.
“Today’s news is testament to a great deal of hard work paying off for the benefit of our members.”