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S&P downgrades Bank of Scotland notes to C
Standard & Poor's said it corrected an error relating to the £57.8 million of junior subordinated notes issued by Bank of Scotland plc (A+/Stable/A-1).
Due to an administrative error, S&P erroneously raised the rating on the issue to CC from C when it affirmed the ratings on Bank of Scotland and its ultimate parent Lloyds Banking Group plc (A/Stable/A-1) on March 9.
The notes are now rated C.
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