Moody&’039s downgrades 12 UK institutions

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Ratings agency Moody’s has downgraded the ratings of 12 UK financial institutions and confirmed the ratings of one other.

Moody’s says the downgrades have been caused by its reassessment of the support environment in the UK which has resulted in the removal of systemic support for seven smaller institutions and the reduction of systemic support by one to three notches for five larger, “more systemically important”” financial institutions.

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