Moody’s Investor Service is considering cutting the debt and deposit ratings of the Royal Bank of Scotland, it said in a release today.
“Moody's rating action follows the publication of a recent trading update, in which RBS's management indicated that the group's year-end 2013 results (scheduled to be published on 27 February 2014) would be materially impacted by additional provisions for pending litigations and conduct-related costs. As a result, the bank will report a weaker than previously anticipated regulatory capital position at end-December 2013, weakening its standalone credit profile," the Moody’s report said.
Cutting the deposit rating...
