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S&P may lower Lloyds
Standard & Poor's said it placed the AA-/A-1+ long- and short-term counterparty credit ratings on Lloyds TSB Group plc on CreditWatch with negative implications.
The agency placed the AA long-term counterparty credit rating on subsidiary Lloyds TSB Bank plc on CreditWatch with negative implications. The A-1+ short-term counterparty credit rating on Lloyds TSB Bank plc was affirmed.
S&P said the watch follows Lloyds TSB's plans to acquire HBOS for £12 billion. The watch reflects the view that the deal, although highly attractive in terms of market position, could lead to increased financial risks in the short to medium term, the agency said.
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