Moody’s ups Scottish Windows to positive

Moody's Investors Service said it affirmed the A2 insurance financial strength ratings of Scottish Widows plc and Clerical Medical Investment Group Ltd. and their associated Baa1(hyb) subordinated debt ratings, and revised the outlook to positive from stable.

Moody’s said the positive outlook reflects its expectations of improvement in Scottish Widows' operating performance, notwithstanding a challenging U.K. market, and is in line with the outlook on Lloyds Bank plc's senior and deposit ratings (senior debt A1 positive, baseline credit assessment baa1).

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