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Barclays Bank PLC Series 2010-1 Collateralized Commercial Paper Rated 'A-1+'; Related Program Rated 'AA-/A-1+' Dec 10
Standard & Poors, Dec 2010
Abstract
LONDON (Standard & Poor's) Dec. 2, 2010--Standard & Poor's Ratings Services said today that it assigned its 'A-1+' short-term rating to the $10 billion Series 2010-1 collateralized commercial paper (CCP) notes issued by U.K.-incorporated Barclays Bank PLC (Barclays; AA-/Negative/A-1+), with Barclays US CCP Funding LLC (not rated) as a co-issuer. The CCP is a joint and several liability of these two entities. At the same time, we assigned 'AA-' long-term and 'A-1+' short-term ratings to the CCP program under which Series 2010-1 was issued. Collateral is held at a triparty custodian for the benefit of the CCP noteholders under a limited recourse undertaking by Barclays CCP Funding LLP (not rated), a newly formed special purpose entity. We have rated Series...
Companies mentioned in this report are: Barclays Bank PLC
Action: New Rating
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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