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Fitch says major UK bank ratings should not be hit by Dubai

Fitch says the ratings of major UK-domiciled banking groups, including HSBC, the Royal Bank of Scotland, Lloyds Banking Group, Barclays and Standard Chartered, are not currently expected to be affected purely by their exposures to the Middle East.

Fitch notes that none of the major UK banks has deemed it necessary to make formal public announcements about their exposures to the Dubai World companies in debt standstill discussions.

Fitch does not expect any UK banking group’s exposure to these companies to be, in itself, of sufficient size to affect its ratings.

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