Research Update: Barclays Bank PLC Ratings Lowered To 'A+/A-1' From 'AA-/A-1+' On Bank Criteria Change; Outlook Stable Nov 11
- Language: English
- Published: November 2011
The ratings on Barclays Bank PLC (Barclays) reflect the bank's high income levels, good capital adequacy, and strong U.K. market position. Barclays' profitability is strong on an international basis and benefits from recent management actions. The alliance with Legal & General Group PLC (AA/Stable/A-1+), announced on Jan. 16, 2001, is in line with Barclays' stated strategy to strengthen its position in key segments of the U.K. retail financial services sector where it has been underweight (mortgages and long-term savings). Its objective is to increase the value of its large customer base. Although the October 2000 acquisition of Woolwich PLC (AA/Stable/A-1+) addressed the mortgage element, this alliance will improve Barclays' position in the long-term savings market by giving it access to...
Companies mentioned in this report are:
- Barclays Bank PLC
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.
This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included. SHOW LESS READ MORE >
- Barclays Bank PLC