Fitch Ratings on May 29 assigned Lloyds Bank Corporate Markets long- and short-term issuer default ratings of A/F1, following completion of the initial transfer of Lloyds Banking Group PLC's non-ring-fenced activities into the company.
The outlook on the long-term issuer default rating is stable.
Fitch also assigned the company a 1 support rating and an A(dcr) derivative counterparty rating, in line with the preliminary ratings assigned to it by the agency on July 17, 2017.
Lloyds Bank Corporate Markets now leads Lloyds Banking Group's non-ring-fenced units. Jersey-based Lloyds Bank International Ltd. is set to become LBCM's subsidiary in July, after which Fitch will also assign final ratings to Lloyds Bank International.
