On Oct. 13, 2008, Standard&Poor's Ratings Services affirmed its 'AA-/A-1+' counterparty credit ratings on Barclays PLC and Lloyds TSB Group PLC and its 'A+/A-1' counterparty credit ratings on HBOS PLC and The Royal Bank of Scotland Group PLC (RBSG). The outlook on RBSG was revised to stable from negative. The counterparty credit ratings on Barclays and Lloyds TSB remain on CreditWatch with negative implications, where they were placed on Sept. 17, 2008 and Sept. 18, 2008, respectively. The long-term counterparty credit rating on HBOS also remains on CreditWatch, where it was placed on Sept. 18, 2008, but the implications were revised to positive from developing. Furthermore, the ratings on the Tier 1 and Upper Tier 2 instruments issued
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