Moody's has downgraded the Co-op Bank's bonds to junk after losses in its real estate business and weakness inthe rest of the bank to survive such shocks. The head of the bank has "stood down".
Co-op pulled out of the deal to buy Lloyds branches last month.
The C-operative Bank has insisted it does not need a taxpayer bailout after ratings agency Moody's downgraded it to 'junk' status.
The Co-Operative Bank's chief executive has resigned after Moody's downgraded its debt to junk status.