trending Market Intelligence /marketintelligence/en/news-insights/trending/v4p0QUPhvbrij_34B7MJOA2 content esgSubNav
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us
In This List

Moody's takes actions on Lloyds Banking Group, units

Banking Essentials Newsletter December Edition Part 2

Banking Essentials Newsletter - November Edition

University Essentials | COVID-19 Economic Outlook in Banking: Rates and Long-Term Expectations: Q&A with the Experts

Estimating Credit Losses Under COVID-19 and the Post-Crisis Recovery

Moody's takes actions on Lloyds Banking Group, units

Moody's on Jan. 29 assigned Lloyds Banking Group PLC a notional "a3" baseline and adjusted baseline credit assessments.

The rating agency affirmed Lloyds' A3 senior unsecured debt rating with a stable outlook.

Meanwhile, Moody's upgraded the long-term counterparty risk ratings of Lloyds Bank PLC, HBOS PLC and Bank of Scotland PLC to Aa2 from Aa3 and their long-term counterparty risk assessments to Aa2(cr) from Aa3(cr).

Moody's also affirmed several other ratings of the subsidiaries, including Lloyds Bank's Aa3/P-1 long- and short-term bank deposit ratings, HBOS' Aa3/P-1 long- and short-term issuer ratings and Bank of Scotland's Aa3 senior unsecured debt rating. The outlook on all the long-term ratings and senior unsecured debt ratings remained stable.

The agency said it assigned the parent company a notional baseline credit assessment after taking into account the group's low asset risk, stable core earnings and strong capital levels. Moody's, however, expects problem loan impairments to increase.