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Standard & Poor's Lists Hybrid Capital Issue Ratings Of Lloyds Banking Group PLC From February 8 Rating Actions Feb 12

Standard & Poors, February 2012

Abstract
For more information on the rating actions, see "Ratings On Certain Hybrids Issued By Lloyds Banking Group And Related Entities Raised On Resumption Of Coupon Payment," published Feb. 8, 2012....

Companies mentioned in this report are:
- Bank of Scotland PLC
- Lloyds TSB Bank PLC
- HBOS PLC
- Lloyds Banking Group PLC

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.

- Bank of Scotland PLC
- Lloyds TSB Bank PLC
- HBOS PLC
- Lloyds Banking Group PLC

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