Fitch affirms Lloyds units

Fitch Ratings said it affirmed the long-term issuer default ratings of Lloyds Banking Group plc, Lloyds Bank plc, HBOS plc and Bank of Scotland plc at A+ with stable outlooks.

The agency also affirmed the viability ratings of Lloyds Banking Group, Lloyds Bank and Bank of Scotland at a.

In addition, Fitch affirmed the long-term issuer default ratings of Lloyds Bank Corporate Markets plc and Lloyds Bank International Ltd. at A with stable outlooks, and the expected long-term issuer default rating of TUTP17 Management GmbH (LBCM Wertpapierhandelsbank GmbH) at A(EXP) with a stable outlook.

“While the U.K. political situation and Brexit status are highly fluid, the outlook is currently stable because LBG's capitalisation, funding and liquidity mean we believe it is able to withstand a moderate weakening of the economic environment associated with Brexit,” the agency said in a news release.

“Unless a disruptive no-deal Brexit occurs or our economic and financial market expectations otherwise deteriorate materially, LBG's ratings are likely to remain at current levels.”

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