Moody's lowers Barclays credit outlook

Rating agencies Moody's and Standard and Poor's have lowered their outlook on Barclays from stable to negative amid the bank rate-rigging scandal.

They put the move down to the fact Barclays was operating without a chief executive after Bob Diamond resigned this week.

However, Richard Hunter, from Hargreaves Lansdown, told the BBC that ratings agencies tended to "err on side of caution" and this latest move did not really tell us anything new.

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