25th Apr 2018 08:05
LONDON (Alliance News) - Moody's Investors Service on Wednesday assigned definitive ratings to the non-ringfenced banks of Lloyds Banking Group PLC.
The credit ratings agency assigned Lloyds Bank Corporate Markets PLC deposit ratings of A1/Prime-1 and an issuer rating of A1 and assigned Lloyds Bank International Ltd deposit ratings of Baa1/Prime-2 and an issuer rating of Baa1.
Moody's said the outlooks on long-term deposit ratings and issuer ratings are stable.
The credit rater also affirmed the Lloyds Bank Corporate Markets baa3 standalone base credit assessment, upgraded the adjusted baseline credit assessment to baa1 from baa2, upgraded the long-term counterparty risk assessment to A1 from A2 and affirmed the short-term counterparty risk assessment at Prime-1.
For Lloyds Bank International, Moody's affirmed the baa2 standalone base credit assessment, the baa1 adjusted base credit assessment, and the A3)/Prime-2 counterparty risk assessment.
Moody's said its rationale for the ratings included having "reasonable certainty that the transfer of business to Lloyds Bank Corporate Markets and Lloyds Bank International Ltd will take place as planned by the banks. This transfer will see certain wholesale and offshore activities of the group transferred to Lloyds Bank Corporate Markets and Lloyds Bank International Ltd from their ring-fenced sister bank, Lloyds Bank PLC".
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