Moody's affirms Discover Financial's ratings (Baa3 long-term senior unsecured), outlook remains stable
Rating Action: Moody's affirms Discover Financial's ratings, outlook remains stable. Global Credit Research- 05 May 2020. New York, May 05, 2020-- Moody's Investors Service has affirmed the ratings of Discover Financial Services and its bank subsidiary, Discover Bank, following the affirmation of the baa2 standalone baseline credit assessment of the bank subsidiary.
Discover Financial Services is a bank holding, as well as a financial holding company. The company manages its business activities in two segments: Direct Banking, which includes consumer banking and lending products, specifically Discover-branded credit cards issued to individuals on the Discover Network and other consumer banking products and services, including student loans, personal loans, home equity loans, and deposit products; and Payment Services, which includes the PULSE network, Diners Club International and its Network Partners business, which provides payment transaction processing and settlement services on the Discover Network.
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