•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
Fitch Ratings has upgraded NatWest Group PLC across a number of key ratings across the lender's subsidiaries after the agency updated its bank rating criteria. The ratings agency raised the long-term issuer default ratings to ‘AA’ from ‘AA-’ of National Westminster Bank Plc, The Royal Bank of Scotland plc, NatWest Bank Europe GmbH, NatWest Markets Plc, NatWest Markets NV and The Royal Bank of Scotland International Ltd. Fitch also upgraded the long-term senior unsecured debt ratings of National Westminster Bank Plc, NatWest Bank Europe GmbH, NatWest Markets Plc, NatWest Markets N.V. and The Royal Bank of Scotland International Limited to ‘AA’ from ‘AA-’. The outlook on all entities remains stable, while short-term ratings were affirmed at F1+. Issuer default ratings are used by credit agencies to assess the likelihood that a borrower will be able to meet its financial obligations. Higher ratings can help banks lower funding costs and improve access to debt markets. NatWest, which reported first-quarter profits ahead of expectations earlier this month, noted that the actions followed Fitch’s review of its criteria for assessing banks rather than any specific corporate announcement from the lender itself. The bank added that ratings are not recommendations to buy, sell or hold securities and can be revised, suspended or withdrawn by the ratings agency at any time.
Premium gym chains are entering a “golden era” that is ending or already in decline, as rising operating costs collide with shifting consumer preferences toward more flexible, community-based ways to exercise. Long-term memberships are shrinking, margins are pressured by higher rents and facility expenses, and competition from smaller, more personalized…
