Fitch cuts UK banks' debt to AA+

Fitch Ratings said it downgraded Lloyds TSB Bank plc's, Abbey National Treasury Services', Barclays Bank plc's, Northern Rock Asset Management's and Bradford & Bingley's program and/or notes issued with the guarantee of the UK sovereign to AA+ and removed them from Rating Watch Negative.

The short-term program ratings are not affected by this rating action.

No other UK bank rating is affected by this action.

Fitch said the downgrade reflects the downgrade of the UK sovereign long-term rating to AA+ from AAA/RWN.

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