Moody’s acts on the outlooks on several U.K. banks

Moody’s Investors Service said it changed the outlook on several United Kingdom-based banks following the recent change in outlook for the government of the U.K. to negative reflecting a weaker operating environment and the possibly more limited ability of the government to help a bank in trouble.

Moody’s said it changed the outlook on Virgin Money UK plc’s senior unsecured debt rating to stable from positive, because of a weakening operating environment in the U.K., that is offset by the potential for a stronger financial profile following a successful execution of the integration with Virgin Money PLC, which transferred most of its assets and liabilities to Clydesdale Bank plc last month.

Moody’s also changed the outlooks on the senior unsecured debt ratings to negative from stable of Close Brothers Group plc, Lloyds Banking Group plc, Lloyds Bank plc, Santander UK plc and Santander UK Group Holdings plc

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