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Barclays Bank PLC 'AA/A-1+' Ratings Affirmed After Review Of U.K. Banks; Outlook Negative Jun 08
Standard & Poors, June 2008
Abstract
LONDON (Standard & Poor's) June 19, 2008--Standard & Poor's Ratings Services said today that it affirmed its 'AA/A-1+' long- and short-term counterparty credit ratings on Barclays Bank PLC and related entities following a review of major U.K. banks. The outlook remains negative. 'The ratings on Barclays reflect its broad diversification by business line and geography, very strong market positions in many of its chosen activities, powerful earnings streams, a solid funding base, and highly developed risk management framework,' said Standard & Poor's credit analyst Nick Hill. The ratings also reflect our expectation that capital is likely to improve from its current relatively weak position, and that capital market-related write-downs are likely to slow considerably after the first quarter of 2008....
Companies mentioned in this report are: Barclays Bank PLC
Action: Affirmed
Action: Outlook: Negative
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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