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Barclays Bank PLC 'AA-/A-1+' Ratings Affirmed On Planned Sale Of Barclays Global Investors; Outlook Negative Jun 09
Standard & Poors, June 2009
Abstract
-- We regard the planned -8.2 billion sale of Barclays' investment management subsidiary, Barclays Global Investors, to Blackrock as marginally positive overall. -- We see a modest benefit to capitalization, partly offset by lower future earnings, diminished earnings quality, and reduced diversification. -- We are affirming our 'AA-/A-1+' ratings on Barclays Bank PLC. -- The negative outlook reflects our view of the potential effect of the unfolding economic recession on credit quality, earnings, and capital. LONDON (Standard & Poor's) June 15, 2009--Standard & Poor's Ratings Services said today that it has affirmed its 'AA-/A-1+' counterparty credit ratings on Barclays Bank PLC (Barclays), following the announcement of the planned sale of its investment management subsidiary Barclays Global Investors (BGI) to Blackrock....
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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