Europe: Moody's takes rate action on Portuguese banks, involving downgrades by one or two levels of the senior debt and deposit ratings of 9 banks and downgrades by 1 or 2 steps of the standalone ratings of 6 of these banks.
Moody's downgrades ratings of 12 UK financial institutions. Lloyds, Santander UK and Co-operative Bank were lowered by one rung while RBS and Nationwide Building Society had their rating cut by 2 levels.
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