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Barclays Bank 'AA-/A-1+' Ratings Affirmed On Announcement Of An Increase In Profitability For First-Half 2009 Aug 09
Standard & Poors, Aug 2009
Abstract
The rating action follows Barclays Bank PLC's announcement of a substantial increase in first-half 2009 profitability. We are affirming our 'AA-/A-1+' counterparty credit ratings on Barclays Bank PLC. The negative outlook reflects the recessionary conditions in several of Barclays' key markets, and its legacy credit market exposures, which we consider pose downside risks to our credit loss expectations. LONDON (Standard & Poor's) Aug. 5, 2009--Standard & Poor's Ratings Services said today that it affirmed its 'AA-/A-1+' counterparty credit ratings on Barclays Bank PLC (Barclays). The outlook remains negative. 'The rating action follows Barclays' announcement on Aug. 3, 2009, of a substantial increase in first-half profitability,' said Standard & Poor's credit analyst Claire Curtin. Barclays reported pretax profits of -2.8 billion,...
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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