Co-Operative Troubles Taunt PRA in First Test for U.K. Watchdog

Co-Operative Troubles Taunt PRA in First Test for U.K. Watchdog

Simon Dawson/Bloomberg

The Co-Operative Bank, based in Manchester, England, says that Moody’s cutting its rating by six steps to Ba3/not prime from A3/prime doesn’t mean it needs a government bailout.