DBRS confirms Lloyds

DBRS said it confirmed its ratings on Lloyds Banking Group plc and related entities, including the group's A (high) issuer and long-term debt ratings as well as the AA (low) senior debt and deposit ratings, A (high) subordinated debt ratings and R-1 (middle) short-term debt ratings of Lloyds TSB Bank plc and HBOS plc and the AA (low) senior debt and deposit ratings of Bank of Scotland plc.

The trend on all long-term debt, with the exception the debt guaranteed by HM Treasury, remains negative, and the trend on all short-term debt ratings and the HM Treasury-guaranteed debt remains stable.

The rating action follows Lloyds' release of its interim results through June 30. DBRS said the confirmation reflects the overall strength of the Lloyds franchise and its combined leading market share in key U.K. financial services markets.

The trend remains negative, reflecting the agency's view that, while there are early indications of a degree of stabilization in the U.K. economy and housing prices, the operating environment in the United Kingdom will likely remain challenging.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.