Fitch turns Lloyds view to stable

Fitch Ratings said it revised the outlook on Lloyds Banking Group plc to stable from negative and affirmed the A issuer default rating.

The agency also changed the outlooks of Lloyds Bank plc, Bank of Scotland plc, HBOS plc and Lloyds Bank Corporate Markets plc to stable from negative and affirmed the IDRs at A+. Lloyds and its banking subsidiaries' other ratings have been affirmed.

“The revision of the outlooks primarily reflects the revision of the outlook on Fitch's operating environment score for U.K. banks with predominantly domestic operations to stable from negative, following the recent revision of the outlook on the U.K.'s AA- long-term IDR to stable, and Fitch's improved expectations for the U.K.'s economic recovery,” the agency said in a press release.

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