S&P Afms Lloyds Bank A-1+ CD,CP, Shrt-trm Cntrpty Rtg Sep 96

  • ID: 2028358
  • September 1996
  • Standard & Poors
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NY -- Standard & Poor's CreditWire 9/24/96 -- Standard & Poor's today has affirmed its `A-1'-plus commercial paper, CD, and short-term counterparty rating of Lloyds Bank PLC, following the announcement that Lloyds TSB Group PLC, the parent of Lloyds Bank PLC, is making an offer to acquire the 37.6% of Lloyds Abbey Life PLC that it does not already own. The financing of the deal is made up of a mix of equity and cash, with the minimum cash outlay being UK790 million and the maximum, UK1,220 million. While this represents a substantial purchase for the group, very strong earnings during 1996 should ensure that the impact on capital ratios will be only minimal when the deal is scheduled to...

Companies mentioned in this report are:
- Lloyds Bank PLC

Action: New Rating

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Research type: News
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- Lloyds Bank PLC

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