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Moody’s expected to downgrade UK banks tonight

Guardian – The market has been awaiting the news of a review by Moody’s ever since the agency first announced in February that it was looking at more than 100 financial institutions in Europe and a handful of US banks.

Back in February, Moody’s warned that Royal Bank of Scotland, 83% owned by the taxpayer, faced a one notch downgrade and Barclays and HSBC a downgrade of up to two notches. Lloyds Banking Group is also among those facing a downgrade.

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