RBS, Lloyds Cut by Moody’s on Declining Government Support
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Moody’s Investors Service cut the senior debt and deposit ratings of 12 British lenders including Royal Bank of Scotland Group Plc and Lloyds Banking Group Plc, saying the government would be less likely to provide support in the event of failure.
Lloyds TSB Bank Plc, Santander UK Plc and Co-Operative Bank Plc had their ratings lowered one step by Moody’s, while RBS and Nationwide Building Society were cut two levels. Seven smaller building societies were cut from one to five levels, the rating company said in a statement today. Clydesdale Bank was confirmed at A2, with a negative outlook.