LONDON (Standard & Poor's) March 22, 2006--Standard & Poor's Ratings Services said today that it revised its outlook on U.K.-incorporated Lloyds TSB Bank PLC (Lloyds TSB) to stable from negative. At the same time, the 'AA/A-1+' counterparty credit and certificate of deposit ratings on Lloyds TSB, the 'AA-' counterparty credit and insurer financial strength ratings on its life subsidiary Scottish Widows PLC, and the ratings on all other related entities were affirmed. "The outlook revision on Lloyds TSB reflects Standard & Poor's more positive view of the prospects for its earnings and capital over the rating horizon. Recent results demonstrate improving franchise growth, revenue momentum, and cost control, while capitalization is expected to strengthen gradually on the back of better...
Companies mentioned in this report are:
- Lloyds Bank PLC
- Scottish Widows PLC
Action: Outlook: Stable
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Research type: News
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