Banks' credit ratings downgraded

[Bloke 32]

Source: The Independent

Confidence in the UK's financial sector was dealt a blow today after an agency slashed the credit ratings of some of Britain's biggest banks to reflect reduced Government support.

Lloyds Banking Group, Santander UK, Royal Bank of Scotland, Co-operative Bank, Nationwide and seven smaller building societies had their debt downgraded by Moody's Investor Service.

The widely-expected move - which triggered a fall in banking shares on the London Stock Exchange - reflects moves by the Government to shift risk away from taxpayers and on to creditors but could see the cost of borrowing for the affected financial institutions increase.

The Chancellor said he was sure the banks were well funded, while Lloyds and RBS defended their record on improving their finances.

Read more: http://www.independent.co.uk/news/business/news/banks-credit-ratings-downgraded-2366932.html

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Awwwww, greedy little City bastards are upset. How am I to go on living now?

[RUMMYisFROSTED]

1. There's still pretending about confidence?

:rofl:

[msongs]

2. first thing to do is get rid of all these credit rating outfits nt

[Wikirating]

3. Credit rating poll

Which credit rating would you give to these banks?

You can vote here:

http://www.wikirating.org/wiki/Lloyds_Banking_Group
http://www.wikirating.org/wiki/Grupo_Santander
http://www.wikirating.org/wiki/Royal_Bank_of_Scotland

Thanks!
Erwan