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Moody's places RBS ratings on review for downgrade

July 05. 2013 3:36PM
Associated Press

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(AP) Moody's Investors Service says it placed its ratings for Britain's taxpayer-owned Royal Bank of Scotland and its parent holding company on review for downgrade after the nation's Treasury appointed an adviser to asses a potential split of the bank.

Britain's Treasury on Wednesday appointed the Rothschild investment bank to provide advice on a U.K. government review, which aims determine whether or not to transfer toxic assets at RBS into a separate entity known as a "bad bank." Some, including Bank of England former governor Mervyn King, have argued that the losses for the taxpayer might be lightened with such a split. A decision is expected in autumn.

Moody's says its action reflects the further uncertainty for bond holders resulting from the government review.

Associated Press

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