May 23, 2011, 7:32 p.m. EDT

Moody's may downgrade U.K. banks: Sky News

SYDNEY (MarketWatch) -- Moody's Investors Service may downgrade 14 U.K. banks and building societies due to concern over the withdrawal of government support for the financial services industry, Sky News reported on its Website late Monday, without saying where it got the information.

The report, posted on a Sky News blog by Mark Kleinman, said Moody's will issue a statement Tuesday during London trading hours advising it his placed the banks on review for downgrade. A spokesman for Moody's declined to comment.