S&P Global Ratings on March 13 assigned Barclays Bank UK Plc A/A-1 long- and short-term issuer credit ratings, with a stable outlook.
These ratings align with the preliminary ratings assigned Oct. 17, 2017, to the bank, which is a new unit of Barclays Plc that will house business "ring-fenced" under U.K. legislation requiring the separation of domestic retail and similar business.
The ratings reflect S&P's expectation that Barclays Plc will shift a significant portion of its U.K. activities to the new ring-fenced bank in early April after it secured court approval. The ratings also factor in the bank's solid credit characteristics and the agency's view that it is an integral part of the Barclays group.
The stable outlook reflects that on Barclays' other core units.
This S&P Global Market Intelligence news article may contain information about credit ratings issued by S&P Global Ratings, a separately managed division of S&P Global. Descriptions in this news article were not prepared by S&P Global Ratings. The original S&P Global Ratings documents referred to in this news brief can be found here.
