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Bulletin: Rating And Outlook On Temasek Holdings Unaffected By Barclays Deal Jul 07
Standard & Poors, July 2007
Abstract
SINGAPORE (Standard & Poor's) July 23, 2007--Standard & Poor's Ratings Services said today its rating and outlook on Temasek Holdings Pte. Ltd. (AAA/Stable/--) are unaffected by Temasek's announcement to acquire approximately 2.1% in Barclays PLC (Barclays Bank PLC is rated AA/Stable/A-1+), for about Singapore dollars (S$) 3 billion. Temasek will also subscribe to a further S$4.5 billion in Barclays' shares, conditional on the completion of the proposed merger of Barclays and ABN AMRO Bank N.V. (AA-/Watch Pos/A-1+). In addition, Temasek will also receive a warrant, exercisable within two years, to subscribe for approximately 61 million Barclays ordinary shares for about S$1.4 billion. The 'AA' rating on U.K.-based Barclays reflects its strong earnings and returns, good market positions, and also its...
Companies mentioned in this report are: Temasek Holdings (Private) Limited,The Royal Bank of Scotland N.V.,Barclays Bank PLC
Action: Bulletin
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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