Lehman Brothers Lloyds Banking Group suffered another blow on Monday when it lost its long-held Aaa credit rating from Moody’s amid continued worries about accelerating losses from HBOS.
The cut in Moody’s long-term rating on the bank was accompanied by a bleak warning by the credit rating agency of the challenges facing Lloyds and the risk of more asset writedowns, putting extra pressure on its share price.
