Don't panic as Moody's cuts bank ratings

Sarah Coles
lloyds branch
lloyds branch

AP

Ratings agency Moody's certainly knows how to create panic. After setting off a massive market collapse by downgrading the status of the US government debt, it has followed it up by downgrading the credit status of 12 UK banks, including major institutions such as Lloyds TSB, RBS, Santander UK and Nationwide.

So should we be worried?