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BULLETIN: Barclays Bank Ratings Unaffected by Possible Acquisition of Majority Stake in ABSA Sep 04
Standard & Poors, Sep 2004
Abstract
LONDON (Standard & Poor's) Sept. 24, 2004--Standard & Poor's Ratings Services said today that the ratings on Barclays Bank PLC (Barclays: AA/Stable/A-1+) are unlikely to be affected by the Sept. 23 announcement that it is in early discussions regarding a possible offer to acquire a majority stake in South African ABSA Group (ABSA; not rated), owner of ABSA Bank Ltd. (BBBpi/--/--). The acquisition of a majority stake in ABSA would add to Barclays' existing African operations, and give it a strong position in the South African market. Nevertheless, it would be a significant acquisition, even for such a large and diversified group as Barclays, representing a sizable proportion of Barclays' financial resources. At this early stage, there is naturally some...
Companies mentioned in this report are: Barclays Bank PLC,Absa Bank Ltd. (Unsolicited Ratings)
Action: Bulletin
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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