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Banking Industry Country Risk Assessment: United Kingdom Jan 10
Standard & Poors, Jan 2010
Abstract
Strong market shares of leading banking groups. Reduced competition from nonbank and overseas lenders. Business-line diversity that we believe improves profile of revenues and earnings. Significant level of debt in the economy, particularly that of households, could lead to high credit losses. Weak economic environment favors high impairment charges and low credit demand. Poor near-term earnings prospects. Reputational damage we identify arising from severe problems in the banking industry in 2007-2009. Standard & Poor's Ratings Services no longer classifies the United Kingdom (AAA/Negative/A-1+) among the most stable and low-risk banking systems globally due to our view of the country's weak economic environment, the reputational damage we believe has been experienced by the banking industry, and what we see as the...
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.
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