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Moody’s downgrades U.K.’s Co-operative bank

By Danica Kirka
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LONDON (AP) — The Co-operative Bank on Friday sought to reassure its customers that it didn’t need a government bailout after Moody’s Investors Service downgraded the U.K. lender’s debt ratings to “junk” status.

Concerns about the bank’s credit status had been rising since it pulled out of a deal to buy some 630 branches from another U.K. lender, Lloyds Bank.

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