Standard & Poor's overnight cut its long-term counterparty credit ratings on HBOS to 'A+' from 'AA-'. HBOS owns Bank of Western Australia, BOS International, Capital Finance and St Andrews Insurance in Australia. The outlook remains stable, said S&P.Fitch Ratings cut its long-term issuer default ratings for HBOS to 'AA' from 'AA+' but said the outlook remains negative.S&P said the move reflects the agency's opinion "that HBOS' financial profile is less well positioned to manage the deteriorating operating environment than 'AA'-rated global peers", Reuters reported.In one measure of investor unease over the funding profile of HBOS, the price of credit default swaps widened to 356 basis points overnight from 315 basis points on Monday according to data cited by Bloomberg, and from 219 basis points last week, according to data cited by the Financial Times.A second measure of investor unease, the HBOS share price, fell 22 per cent overnight to 182 pence.