|
|
 |
|
Viewing report
|
|
|
|
Barclays Bank PLC's Issue of Reserve Capital Instruments Rated 'A+' Apr 00
Standard & Poors, April 2000
Abstract
LONDON (Standard & Poor's CreditWire) April 13, 2000--Standard & Poor's today assigned its single-'A'-plus rating to the issue of reserve capital instruments (RCIs) by U.K.-based Barclays Bank PLC (AA/Stable/A-1+). The RCIs are perpetual bonds and direct obligations of Barclays Bank PLC. In the unlikely event of liquidation of the bank, the RCIs will be treated as a class of preference shares ranking senior to all other classes of shares in Barclays Bank PLC. Barclays has constructed the RCIs to bear a mix of the characteristics of preference shares and junior subordinated debt. Standard & Poor's typically rates such instruments two or three notches below the issuer's counterparty credit rating. The RCIs are rated two notches below Barclays Bank PLC's counterparty...
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.
|
|
|
|
