“The banks probably will get downgraded after the event,” said Gary Greenwood, an analyst at Shore Capital. On Tuesday, Moody's changed the outlook of the ratings of 12 UK banks and building societies, as well as the outlook on the UK banking sector as a whole, from stable to negative, saying it expects "lower economic growth and heightened uncertainty over the UK's future trade relationship with the EU to lead to reduced demand for credit, higher credit losses and more volatile wholesale funding conditions for UK financial institutions". This would hit banks' credit fundamentals, it said. While investors are not entirely bound by changes in credit ratings “you could see sellers on a downgrade as some banks fall out of their [risk] buckets,” Mr Greenwood said.
Antonio Horta - Osorio , CEO of Lloyds , has purchased a further 100,000 shares in the bank in a bid to demonstrate the short - term nature of the lender 's share price slump , bringing his total shares to 500 shares . The investors may work to increase investor confidence in the bank amid concerns of slashed credit prices following the result of the EU crisis .