Research Update: Barclays Bank PLC Ratings Lowered To 'A+/A-1' From 'AA-/A-1+' On Bank Criteria Change; Outlook Stable Nov 11
Standard & Poors, November 2011
Abstract
Following a review of Barclays Bank PLC (Barclays) under Standard & Poor's revised bank criteria (published on Nov. 9, 2011), we have lowered our long-term counterparty credit rating to 'A+' from 'AA-'. At the same time, we lowered the short-term counterparty credit rating to 'A-1' from 'A-1+'. The outlook is stable. The rating on Barclays' perpetual subordinated debt was lowered to 'BBB' from 'A-', and the rating on its dated subordinated debt was lowered to 'BBB+' from 'A'. Other rating actions on debt issues and subsidiaries are listed below. Our ratings on Barclays reflect our view of its 'bbb+' anchor, strong business position, adequate capital and earnings, adequate risk position, average funding, and adequate liquidity. Our ratings also reflect our...
Companies mentioned in this report are:
- Barclays Bank PLC
- Barclays U.S. Funding Corp.
- Barclays Bank S.A.
- Barclays SLCSM Funding B.V.
- Barclays Bank PLC (Australian Branch)
- Barclays Private Clients International Ltd.
- Barclays Bank PLC (Singapore Branch)
- Barclays Bank PLC (Tokyo Branch)
- Barclays Bank PLC (Hong Kong Branch)
- Barclays US Funding LLC
- Barclays Financial LLC
- Barclays Bank Ireland PLC
- Barclays Capital Inc.
- Barclays Bank Mexico S.A.
- Barclays PLC
Action: Downgraded
Action: Outlook: Stable
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.
Product Type: Research Update
Research updates complement media releases. They offer more depth and detail than summary analyses by incorporating all information published in the media release. They are more up to date than summaries in that they are published simultaneously with media releases.
- Barclays Bank PLC
- Barclays U.S. Funding Corp.
- Barclays Bank S.A.
- Barclays SLCSM Funding B.V.
- Barclays Bank PLC (Australian Branch)
- Barclays Private Clients International Ltd.
- Barclays Bank PLC (Singapore Branch)
- Barclays Bank PLC (Tokyo Branch)
- Barclays Bank PLC (Hong Kong Branch)
- Barclays US Funding LLC
- Barclays Financial LLC
- Barclays Bank Ireland PLC
- Barclays Capital Inc.
- Barclays Bank Mexico S.A.
- Barclays PLC
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