Co-Op: No Govt help needed

The Co-op Bank has said "we haven’t sought nor do we need government support" after the rating agency Moody's suggested it may need "external support" to help it absorb future losses. Its chief executive has resigned.

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Moody's downgrades Co-op Bank's bonds

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.

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