Tuesday, September 16, 2008

Shares fall -21%….

S&P cuts HBOS PLC counterparty credit ratings

S&P said it is cutting ratings on HBOS and its main operating subsidiary Bank of Scotland to 'A+' from 'AA-', the fourth-highest investment grade. The outlook remains stable, said S&P...."The U.K. housing and mortgage markets are in a period of "severe strain" and are unlikely to recover in the near term, said the analyst.

Posted by whostolemyendowment @ 05:25 PM (530 views)
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