Rating agency Moody's gives Barclays a negative outlook

Friday 6th July 2012

Ratings agency Moody’s has changed the outlook on financial strength at Barclays to negative in the wake of the Libor fixing scandal. It had been ‘stable’.

Moody’s cited senior resignations at the bank and resulting uncertainty, and said that while a change in culture at Barclays was potentially positive over the longer term, it would have a negative impact on credit in the short term.

Moody’s said that a return to a ‘stable’ outlook rating is unlikely until a sound management structure is in place.