Credit Ratings

Moody's, Fitch, Standard and Poor's, and DBRS

View current credit ratings for the Group and its main subsidiaries, together with ratings definitions, and download the latest reports.

 

LLOYDS BANKING GROUP PLC

Agency Long Term Short Term Rating Report

Moody's

Baa1

P-2

Fitch

A+

F1

Standard & Poor's

BBB+

A-2

DBRS

A

-

 

LLOYDS BANK PLC

Agency Long Term Short Term Rating Report

Moody's

A1

P-1

Fitch

A+

F1

Standard & Poor's

A

A-1

DBRS

A (high)

R-1 (middle)

 

LLOYDS BANK CORPORATE MARKETS PLC

Agency Long Term Short Term Rating Report

Fitch

A

F1 

Standard & Poor's

A-

A-2

 

HBOS PLC

Agency Long Term Short Term Rating Report

Moody's

A1

P-1

Fitch

A+

F1

Standard & Poor's

BBB+

A-2

DBRS

A (high)

R-1 (low)

 

BANK OF SCOTLAND PLC

Agency Long Term Short Term Rating Report

Moody's

A1

P-1

Fitch

A+

F1

Standard & Poor's

A

A-1

DBRS

A (high)

R-1 (middle)

 

RATINGS DEFINITIONS

Moody's

Obligations rated ‘A’ are considered upper-medium grade and are subject to low credit risk.

Obligations rated ‘Baa’ are judged to be medium-grade and subject to moderate credit risk and as such may possess certain speculative characteristics.

The modifiers ‘1’, ‘2’ and ‘3’ are appended to these ratings to denote relative ranking within major rating categories. The modifier ‘1’ indicates that the obligation ranks in the higher end of its generic rating category; the modifier ‘2’ indicates a mid-range ranking; and the modifier ‘3’ indicates a ranking in the lower end of that generic rating category.

Fitch

'AA' ratings denote expectations of very low default risk. They indicate very strong capacity for payment of financial commitments. This capacity is not significantly vulnerable to foreseeable events.

'A' ratings denote expectations of low default risk. The capacity for payment of financial commitments is considered strong. This capacity may, nevertheless, be more vulnerable to adverse business or economic conditions than is the case for higher ratings.

The modifiers '+' or '-' may be appended to a rating to denote relative status within major rating categories.

Standard & Poor's

An obligor rated 'A' has a strong capacity to meet its financial commitments. An obligation rated ‘A’ is somewhat more susceptible to the adverse effects of changes in circumstances and economic conditions than obligations in higher rated categories.

An obligation rated 'BBB' exhibits adequate protection parameters. However, adverse economic conditions or changing circumstances are more likely to lead to a weakened capacity of the obligor to meet its financial commitment on the obligation.

Long term debt ratings may include a plus '+' or minus '-' to indicate where within the category the issue is placed.

DBRS

Long term debt rated 'A' is of good credit quality, and protection of interest and principal is substantial, but of lesser credit quality than AA. The issuer may be vulnerable future events, but qualifying negative factors are considered manageable.

Long term debt ratings may contain subcategories '(high)' and '(low)' to indicate where within the category the issue is placed.

 

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