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'AA-/A-1+' Ratings on Royal Bank of Scotland Affirmed Following Acquisition Plans Jul 01
Standard & Poors, July 2001
Abstract
LONDON (Standard & Poor's CreditWire) July 17, 2001--Standard & Poor's today affirmed its double-'A'-minus long-term and its 'A-1'-plus short-term counterparty credit ratings on Royal Bank of Scotland PLC and on fellow group members National Westminster Bank PLC, two subsidiaries of Citizens Financial Group (Citizens), and all other group affiliates. At the same time, Standard & Poor's affirmed its single-'A'-plus long-term and its 'A-1' short-term counterparty credit ratings on Royal Bank of Scotland Group PLC. The outlook remains stable. The rating action follows today's announcement that Citizens has agreed to acquire the regional retail and commercial operations of Mellon Financial Corp. (A+/Stable/--). These consist of $13.4 billion of assets and related funding, 345 branches, and 4135 employees in Pennsylvania, Delaware, and...
Companies mentioned in this report are: The Royal Bank of Scotland PLC,National Westminster Bank PLC,Mellon Financial Corp.,The Royal Bank of Scotland Group PLC
Action: Affirmed
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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