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Barclays Bank Ireland PLC Assigned 'AA-/A-1+' Ratings; Outlook Stable Jul 05
Standard & Poors, July 2005
Abstract
LONDON (Standard & Poor's) July 4, 2005--Standard & Poor's Ratings Services said today it assigned its 'AA-/A-1+' long- and short-term counterparty credit and certificate of deposit ratings to Barclays Bank Ireland PLC (BBI). The outlook is stable. The ratings on BBI reflect its satisfactory fundamentals and its strategic importance to its 100% owner, Barclays Bank PLC (Barclays; AA/Stable/A-1+), given its common brand and systems. It is not considered a core subsidiary, however, due to its relatively small contribution to group capital and earnings, and given that its business model is still evolving. On July 1, 2005, Barclays transferred the assets and liabilities of its Dublin branch to BBI, which now acts as Barclays' primary entity within Ireland for corporate banking...
Companies mentioned in this report are: Barclays Bank Ireland PLC,Barclays Bank PLC
Action: New Rating
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.
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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