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Moody's lowers government-backed debt of Barclays, Lloyds
Moody's Investors Service said it downgraded to Aa1 (stable) from Aaa (negative) the backed long-term senior ratings of Barclays Bank plc and Lloyds TSB Bank plc. These ratings are guaranteed under the U.K. government's National Loan Guarantee Scheme.
The rating actions follow the weakening of the U.K. government's credit profile, reflected by Moody's recent downgrade of the United Kingdom's government bond rating to Aa1 (stable) from Aaa (negative).
All other ratings of Barclays and Lloyds remain unchanged. In addition, all standalone and unguaranteed ratings for other U.K. banks rated by Moody's are unaffected.
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