Barclays Bank PLC (Barclays) has announced that it has completed the acquisition of Standard Life Bank PLC (SLB). We are maintaining our 'A-/A-2' counterparty credit ratings on SLB on CreditWatch, where they had been placed with positive implications on Oct. 27, 2009. The CreditWatch placement reflects our expectation that the merger of SLB into Barclays is likely to proceed later this year. We currently expect to resolve the CreditWatch upon completion of the merger. On Jan. 27, 2010, Standard & Poor's Ratings Services commented on its CreditWatch placement of Standard Life Bank PLC (SLB). The 'A-/A-2' long- and short-term counterparty credit ratings remain on CreditWatch where they had been placed with positive implications on Oct. 27, 2009. The original CreditWatch...
Companies mentioned in this report are:
- Standard Life Bank PLC
- Barclays Bank PLC
- Barclays SLCSM Funding B.V.
Action: CreditWatch Update
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. SHOW LESS READ MORE >