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Clydesdale's future is crucial to NAB rating

WHAT happens to Clydesdale Bank will be crucial to the credit rating of parent National Australia Bank, Standard & Poor's has warned.

S&P maintained its "AA-" rating on NAB's debt after this week's trading update that saw it launch a review of its UK business, which includes Yorkshire bank.

"NAB's recent performance and future prospects remain consistent with our current view of the strong 'AA-' credit standing on the bank," S&P analyst Gavin Gunning said.