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S&P Afms Lloyds Bank A-1+ CD,CP, Shrt-trm Cntrpty Rtg Sep 96
Standard & Poors, September 1996
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 TSB Bank PLC
Action: New Rating
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: News
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Lloyds TSB Bank PLC