Lloyds TSB Bank PLC Outlook Revised To Stable; 'AA/A-1+' Ratings Affirmed Mar 06

  • ID: 2028734
  • March 2006
  • Standard & Poors
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  • Lloyds Bank PLC
  • Scottish Widows PLC
  • MORE

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: Affirmed
Action: Outlook: Stable

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
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.

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2 of 3

- Lloyds Bank PLC
- Scottish Widows PLC

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