On Air Now

Tune in to Listen

99.9 FM Hibbing, MN

Weather

Current Conditions(Hibbing,MN 55746)

More Weather »
34° Feels Like: 27°
Wind: ESE 8 mph Past 24 hrs - Precip: 0.22”
Current Radar for Zip

Tonight

Rain/Freezing Rain 29°

Tomorrow

Rain/Snow 37°

Fri Night

Rain/Snow 32°

Alerts

RBS says credit rating would be hit by Scottish split

By Steve Slater

LONDON (Reuters) - Royal Bank of Scotland said if Scots vote for independence it would probably "significantly" hit its credit ratings. A cut in credit ratings typically increases a company's funding costs.

"A vote in favor of Scottish independence would be likely to significantly impact the group's credit ratings and could also impact the fiscal, monetary, legal and regulatory landscape to which the group is subject," RBS said in the risk section of its annual results.

Scotland will vote on independence from the UK in September.

RBS CEO Ross McEwan earlier on Thursday said the bank had to makes plans around what the implications of a "yes" vote could be, but added: "This is a huge issue for Scotland and we are neutral and won't do anything to raise the temperature of that vote."

(This story has been refiled to replace "rise" with " cut" in first paragraph)

(Reporting by Steve Slater. Editing by Carmel Crimmins)

Comments