Moody’s Downgrades RBS, Lloyds, 10 Other British Banks

Law360, New York (October 7, 2011, 7:23 PM EDT) -- Moody's Investors Service Inc. on Friday downgraded the debt ratings of 12 British banks, including Lloyds TSB Bank PLC and Royal Bank of Scotland, citing the U.K. government's move away from seeing banks as too big to fail.

Moody's said U.K. authorities, in particular the Bank of England, Financial Services Authority and the Treasury, seem far less likely to prop up a sagging bank than they had been previously.

“The UK tripartite authorities have provided ongoing guidance that banks that fail in the future should not...
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