Moody’s Give U.K. Banks a Clean Bill of Health
- Moody’s says costs of preparing for EU exit to be ‘moderate’
- Lloyds placed on review for upgrade on improved asset risk
Onlookers watch the evening sun set on the horizon beyond skyscrapers including the Leadenhall building, also known as the 'Cheesegrater.'
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U.K. banks are better placed to withstand a slowing economy as the country exits the European Union, Moody’s Investors Service said.
Moody’s raised the outlook on the nation’s banks to stable from negative, according to a report Wednesday. Strong capital positions, loan quality and funding should underpin profitability even as the economy slows, while additional costs associated with preparing for Brexit will be “moderate,” it said.