DBRS turns Lloyds Bank trend to stable

DBRS said it revised the trend to stable from negative and confirmed the long-term issuer ratings of Lloyds Banking Group plc at A (high) and Lloyds Bank plc’s long-term issuer rating at AA (low).

“The revision of the trend to stable reflects that the impact of the Covid-19 pandemic and the U.K.’s withdrawal from the European Union have not materially impacted Lloyds’ earnings power which has remained solid and is now benefiting from a higher interest rate environment,” the agency said in a press release.

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