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Barclays Private Clients International Ltd. Assigned 'AA/A-1+' Ratings; Outlook Stable Jun 03
Standard & Poors, June 2003
Abstract
LONDON (Standard & Poor's) June 5, 2003--Standard & Poor's Ratings Services said today it assigned its 'AA/A-1+' counterparty credit ratings to Barclays Private Clients International Ltd. (BPCI). The outlook is stable. This is the first Standard & Poor's rating assigned to an Isle of Man-based bank. The ratings on BPCI reflect its core position within the Barclays Group, its relatively low risk profile, and its sound financials. BPCI is an offshore banking subsidiary of Barclays Bank PLC (Barclays; AA/Stable/A-1+). The scale of its business was significantly increased on May 1, 2003, when the consolidation of Barclays' branches and subsidiaries in Jersey, Guernsey, and the Isle of Man into BPCI was completed. 'Standard & Poor's considers BPCI to be a core...
Companies mentioned in this report are: Barclays Private Clients International Ltd.,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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