Should you worry about the Co-op Bank?

Ratings agency Moody's recently downgraded the Co-op Bank. If you have an account with the bank, should you be worried, and what should you do? James McKeigue reports.

Ratings agency Moody's last week cut the Co-operative Bank's credit rating to junk' status. The move immediately knocked a third off the price of the bank's bonds, was partly to blame for the chief executive stepping down, and unsettled the bank's millions of customers across Britain.

It's more bad news for the Co-op after it had to pull out of a deal to buy 600 branches from Lloyds Banking Group. So just how serious is the downgrade?

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James McKeigue

James graduated from Keele University with a BA (Hons) in English literature and history, and has a certificate in journalism from the NCTJ. James has worked as a freelance journalist in various Latin American countries.He also had a spell at ITV, as welll as wring for Television Business International and covering the European equity markets for the Forbes.com London bureau. James has travelled extensively in emerging markets, reporting for international energy magazines such as Oil and Gas Investor, and institutional publications such as the Commonwealth Business Environment Report. He is currently the managing editor of LatAm INVESTOR, the UK's only Latin American finance magazine.