Northern Rock plc http://www.alacrastore.com/company-snapshot/Northern_Rock_plc-1054408 25 Nov 2009 10:45:18 EST 1054408 Northern Rock plc en AlacraStore RSS Builder 1.0 30 http://www.alacrastore.com/research/s-and-p-credit-research-Northern_Rock_100_Million_Floating_Rate_Upper_Tier_2_Subordinated_Debt_Rating_Lowered_To_C_On_Nonpayment_Of_Coupon-758679758679spcred/758679normglobalstructured23 Nov 2009 08:16:00 EST100Ratings ActionThe latest Ratings Action from S&PUnited KingdomThrifts & Mortgage FinanceEurope, Middle East, AfricaGlobal IssuersStructured FinanceRatings ActionGBR66567566567E66567F66567G6656P06656P16656P26656P36656P4G6639QG6640T40102010 401020 4010 40Northern Rock PLC116601EUROMIDAFRNRK@LNRATING_ACTIONCMBSFIGLOBISSRMBSSTRUCCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/research/creditsights-UK_RMBS_When_a_Master_Trust_Dies_It_Dies_Slowly-9124491244cs/91244normArticleTemplatePrincipal repayment on UK mortgages rates have collapsed. The drop in repayments exposes holders of master-trust RMBS to the risk of a very long repayment schedule.dwattshgaletovabradford_bingleyhboslloyds_tsbnorthern_rockbradford_bingleyhboslloyds_tsbnorthern_rockunited_kingdomunited_kingdom9124411 Nov 2009 11:09:38 ESTYes91244150CreditSights Inceuropeeuropebanksfinancial_servicesbanksfinancial_servicesPublishedmortgagesstrategystructured_productssubprimemortgagesstrategystructured_productssubprimeStrategyCommentStrategy Analysis1998 UK RMBS: When a Master Trust Dies, It Dies Slowly Principal repayment rates have collapsed to their lowest level since at least ####, according to Bank of England data. This fall in repayments is creating a risk that holders of RMBS...Credit & Investment ResearchCreditSightshttp://www.alacrastore.com/research/creditsights-UK_Banks_Another_Cunning_Plan-7888778887cs/78887normArticleTemplateThe government finds yet more ways to protect UK banks - but will it be enough to save the economy?sadamsonbarclayshboshsbc_holdingslloyds_tsbnorthern_rockroyal_bank_of_scotlandbarclayshboshsbc_holdingslloyds_tsbnorthern_rockroyal_bank_of_scotlandunited_kingdomunited_kingdom7888709 Nov 2009 11:51:58 ESTYes78887150CreditSights Inceuropeeuropebanksfinancial_servicesbanksfinancial_servicesPublishedSectorCommentSector Analysis2094 UK Banks: Another Cunning Plan The UK government takes on yet another guise to support banks - that of a giant credit insurer, aping measures already taken by the US authorities The measures will continue to support the creditworthiness...aareal_bankaareal_bankabn_amroabn_amroaegonaegonaffiliated_managersaffiliated_managersalliance_leicesteralliance_leicesteralliancebernsteinalliancebernsteinallianzallianzallied_irishallied_irishamerican_expressamerican_expressameriprise_financialameriprise_financialamvescapamvescapanglo_irish_bankanglo_irish_bankanzanzassociated_bancassociated_bancastoria_financialastoria_financialavivaavivaaxaaxabanca_italeasebanca_italeasebanca_lombardabanca_lombardabanca_monte_dei_paschi_di_sienabanca_monte_dei_paschi_di_sienabanca_popolare_di_milanobanca_popolare_di_milanobanca_popolare_italianabanca_popolare_italianabancajabancajabanche_popolari_unitebanche_popolari_unitebanco_bilbao_vizcaya_argentariabanco_bilbao_vizcaya_argentariabanco_bradescobanco_bradescobanco_comercial_portuguesbanco_comercial_portuguesbanco_de_chilebanco_de_chilebanco_de_sabadell_sabanco_de_sabadell_sabanco_espirito_santobanco_espirito_santobanco_itaubanco_itaubanco_popolarebanco_popolarebanco_popular_espanolbanco_popular_espanolbanco_santander_central_hispanobanco_santander_central_hispanobangkok_bankbangkok_bankbank_of_americabank_of_americabank_of_chinabank_of_chinabank_of_communicationsbank_of_communicationsbank_of_east_asiabank_of_east_asiabank_of_irelandbank_of_irelandbank_of_montrealbank_of_montrealbank_of_new_york_mellonbank_of_new_york_mellonbank_of_nova_scotiabank_of_nova_scotiabankgesellschaft_berlinbankgesellschaft_berlinbarclaysbarclaysbawagbawagbayerische_landesbankbayerische_landesbankbbtbbtblackrockblackrockbnp_paribasbnp_paribasbradford_bingleybradford_bingleycaja_madridcaja_madridcapital_onecapital_onecapitaliacapitaliacharles_schwabcharles_schwabchina_citicchina_citicchina_construction_bankchina_construction_bankchina_international_capitalchina_international_capitalcibccibccitcitcitigroupcitigroupcomericacomericacommerzbankcommerzbankcommonwealth_bank_of_australiacommonwealth_bank_of_australiacorealcredit_bankcorealcredit_bankcredit_agricolecredit_agricolecredit_suissecredit_suissedaiwa_bankdaiwa_bankdanske_bankdanske_bankdepfa_bankdepfa_bankdeutsche_bankdeutsche_bankdexiadexiadnb_nordnb_nordowney_financialdowney_financialdz_bankdz_bankeaton_vanceeaton_vanceefg_eurobank_ergasiasefg_eurobank_ergasiasegg_plcegg_plcentenialentenialerste_bankerste_banketradeetradeeurekoeurekoeurohypoeurohypofdicfdicfederated_investorsfederated_investorsfifth_third_bancorpfifth_third_bancorpfirst_horizon_nationalfirst_horizon_nationalfortisfortisfranklin_resourcesfranklin_resourcesgamco_investorsgamco_investorsgeneral_electricgeneral_electricgeneral_electric_capitalgeneral_electric_capitalgeneral_motorsgeneral_motorsgeneraligeneraliglitnir_bankglitnir_bankgmacgmacgoldman_sachsgoldman_sachshannover_rehannover_rehboshboshome_depothome_depothousehold_internationalhousehold_internationalhsbc_financehsbc_financehsbc_holdingshsbc_holdingshsh_nordbankhsh_nordbankhuntington_bancshareshuntington_bancshareshvbhvbhypo_alpe_adria_bankhypo_alpe_adria_bankhypo_real_estate_bankhypo_real_estate_bankiasis_healthcareiasis_healthcareici_1ici_1ikb_deutsche_industriebankikb_deutsche_industriebankindustrial_and_commercial_bank_of_chinaindustrial_and_commercial_bank_of_chinaingingintesa_sanpaolointesa_sanpaoloirwinirwinjanus_capitaljanus_capitaljpmorgan_chasejpmorgan_chasejyske_bankjyske_bankkaupthing_bankkaupthing_bankkbc_bankkbc_bankkeycorpkeycorpkookmin_bankkookmin_bankla_caixala_caixalandesbank_baden_wuerttemberglandesbank_baden_wuerttemberglandesbank_berlinlandesbank_berlinlandesbank_sachsenlandesbank_sachsenlandsbankilandsbankilegg_masonlegg_masonlehman_brotherslehman_brotherslloyds_tsblloyds_tsbmalayan_bank_berhadmalayan_bank_berhadmarshall_ilsleymarshall_ilsleymillea_holdingsmillea_holdingsmitsubishi_ufj_financialmitsubishi_ufj_financialmizuho_holdingsmizuho_holdingsmorgan_stanleymorgan_stanleymt_bankmt_bankmunich_remunich_renational_australia_banknational_australia_banknational_bank_of_greecenational_bank_of_greecenationwide_building_societynationwide_building_societynatixisnatixisnew_century_financialnew_century_financialnew_york_communitynew_york_communitynibc_banknibc_banknomura_holdingsnomura_holdingsnorddeutsche_landesbanknorddeutsche_landesbanknordeanordeanorthern_rocknorthern_rocknorthern_trustnorthern_trustnuveen_investmentsnuveen_investmentsnymex_holdingsnymex_holdingsoccoccoko_bankoko_bankomega_healthcare_investorsomega_healthcare_investorsotp_bankotp_bankoversea_chinese_bankingoversea_chinese_bankingparmalatparmalatpnc_financial_servicespnc_financial_servicespopularpopularprudential_financialprudential_financialrabobankrabobankregions_financialregions_financialresidential_capitalresidential_capitalresona_holdingsresona_holdingsrheinland_pfalz_bankrheinland_pfalz_bankroyal_bank_of_canadaroyal_bank_of_canadaroyal_bank_of_scotlandroyal_bank_of_scotlandroyal_sun_allianceroyal_sun_alliancerzbrzbscotia_pacificscotia_pacificsebsebshinhan_financialshinhan_financialshinsei_bank_limitedshinsei_bank_limitedsivb_financialsivb_financialslmslmsns_banksns_banksociete_generalesociete_generalestandard_charteredstandard_charteredstate_bank_of_indiastate_bank_of_indiastate_streetstate_streetsumitomo_mitsui_bankingsumitomo_mitsui_bankingsuntrust_bankssuntrust_bankssvenska_handelsbankensvenska_handelsbankenswedbankswedbankswiss_reinsuranceswiss_reinsurancet_rowe_pricet_rowe_pricetd_ameritradetd_ameritradetoronto_dominiontoronto_dominionubsubsunicreditunicreditunionbancalunionbancalunipolunipolunited_overseas_bankunited_overseas_bankus_bancorpus_bancorpwaddell_reedwaddell_reedwashington_mutualwashington_mutualwells_fargowells_fargowestlbwestlbwestpacwestpacwoori_financialwoori_financialzions_bancorporationzions_bancorporationzurich_financialzurich_financialCredit & Investment ResearchCreditSightshttp://www.alacrastore.com/research/creditsights-UK_Mortgage_Lenders_Part_1_Home_Comforts-6044660446cs/60446normArticleTemplateUK mortgage lenders are feeling the strain but are strong enough to cope with a downturnsadamsonalliance_leicesterbanco_santander_central_hispanobarclaysbradford_bingleybritannia_building_societyhboshsbc_holdingslloyds_tsbnationwide_building_societynorthern_rockroyal_bank_of_scotlandalliance_leicesterbanco_santander_central_hispanobarclaysbradford_bingleybritannia_building_societyhboshsbc_holdingslloyds_tsbnationwide_building_societynorthern_rockroyal_bank_of_scotlandunited_kingdomunited_kingdom6044609 Nov 2009 11:51:57 ESTYes60446150CreditSights Inceuropeeuropebanksfinancial_servicesbanksfinancial_servicesPublishedmortgagessubprimemortgagessubprimeSectorCommentSector Analysis2249 UK Mortgage Lenders: Part # - Home Comforts Pressures are building in the UK mortgage market thanks to higher interest rates, flattening house prices and increasing arrears and repossessions UK mortgage lenders are feeling the strain...aareal_bankaareal_bankabn_amroabn_amroaegonaegonaffiliated_managersaffiliated_managersalliance_leicesteralliance_leicesteralliancebernsteinalliancebernsteinallianzallianzallied_irishallied_irishamerican_expressamerican_expressameriprise_financialameriprise_financialamvescapamvescapanglo_irish_bankanglo_irish_bankanzanzassociated_bancassociated_bancastoria_financialastoria_financialavivaavivaaxaaxabanca_italeasebanca_italeasebanca_lombardabanca_lombardabanca_monte_dei_paschi_di_sienabanca_monte_dei_paschi_di_sienabanca_popolare_di_milanobanca_popolare_di_milanobanca_popolare_italianabanca_popolare_italianabancajabancajabanche_popolari_unitebanche_popolari_unitebanco_bilbao_vizcaya_argentariabanco_bilbao_vizcaya_argentariabanco_bradescobanco_bradescobanco_comercial_portuguesbanco_comercial_portuguesbanco_de_chilebanco_de_chilebanco_de_sabadell_sabanco_de_sabadell_sabanco_espirito_santobanco_espirito_santobanco_itaubanco_itaubanco_popolarebanco_popolarebanco_popular_espanolbanco_popular_espanolbanco_santander_central_hispanobanco_santander_central_hispanobangkok_bankbangkok_bankbank_of_americabank_of_americabank_of_chinabank_of_chinabank_of_communicationsbank_of_communicationsbank_of_east_asiabank_of_east_asiabank_of_irelandbank_of_irelandbank_of_montrealbank_of_montrealbank_of_new_york_mellonbank_of_new_york_mellonbank_of_nova_scotiabank_of_nova_scotiabankgesellschaft_berlinbankgesellschaft_berlinbarclaysbarclaysbawagbawagbayerische_landesbankbayerische_landesbankbbtbbtblackrockblackrockbnp_paribasbnp_paribasbradford_bingleybradford_bingleycaja_madridcaja_madridcapital_onecapital_onecapitaliacapitaliacharles_schwabcharles_schwabchina_citicchina_citicchina_construction_bankchina_construction_bankchina_international_capitalchina_international_capitalcibccibccitcitcitigroupcitigroupcomericacomericacommerzbankcommerzbankcommonwealth_bank_of_australiacommonwealth_bank_of_australiacorealcredit_bankcorealcredit_bankcredit_agricolecredit_agricolecredit_suissecredit_suissedaiwa_bankdaiwa_bankdanske_bankdanske_bankdepfa_bankdepfa_bankdeutsche_bankdeutsche_bankdexiadexiadnb_nordnb_nordowney_financialdowney_financialdz_bankdz_bankeaton_vanceeaton_vanceefg_eurobank_ergasiasefg_eurobank_ergasiasegg_plcegg_plcentenialentenialerste_bankerste_banketradeetradeeurekoeurekoeurohypoeurohypofdicfdicfederated_investorsfederated_investorsfifth_third_bancorpfifth_third_bancorpfirst_horizon_nationalfirst_horizon_nationalfortisfortisfranklin_resourcesfranklin_resourcesgamco_investorsgamco_investorsgeneral_electricgeneral_electricgeneral_electric_capitalgeneral_electric_capitalgeneral_motorsgeneral_motorsgeneraligeneraliglitnir_bankglitnir_bankgmacgmacgoldman_sachsgoldman_sachshannover_rehannover_rehboshboshome_depothome_depothousehold_internationalhousehold_internationalhsbc_financehsbc_financehsbc_holdingshsbc_holdingshsh_nordbankhsh_nordbankhuntington_bancshareshuntington_bancshareshvbhvbhypo_alpe_adria_bankhypo_alpe_adria_bankhypo_real_estate_bankhypo_real_estate_bankiasis_healthcareiasis_healthcareici_1ici_1ikb_deutsche_industriebankikb_deutsche_industriebankindustrial_and_commercial_bank_of_chinaindustrial_and_commercial_bank_of_chinaingingintesa_sanpaolointesa_sanpaoloirwinirwinjanus_capitaljanus_capitaljpmorgan_chasejpmorgan_chasejyske_bankjyske_bankkaupthing_bankkaupthing_bankkbc_bankkbc_bankkeycorpkeycorpkookmin_bankkookmin_bankla_caixala_caixalandesbank_baden_wuerttemberglandesbank_baden_wuerttemberglandesbank_berlinlandesbank_berlinlandesbank_sachsenlandesbank_sachsenlandsbankilandsbankilegg_masonlegg_masonlehman_brotherslehman_brotherslloyds_tsblloyds_tsbmalayan_bank_berhadmalayan_bank_berhadmarshall_ilsleymarshall_ilsleymillea_holdingsmillea_holdingsmitsubishi_ufj_financialmitsubishi_ufj_financialmizuho_holdingsmizuho_holdingsmorgan_stanleymorgan_stanleymt_bankmt_bankmunich_remunich_renational_australia_banknational_australia_banknational_bank_of_greecenational_bank_of_greecenationwide_building_societynationwide_building_societynatixisnatixisnew_century_financialnew_century_financialnew_york_communitynew_york_communitynibc_banknibc_banknomura_holdingsnomura_holdingsnorddeutsche_landesbanknorddeutsche_landesbanknordeanordeanorthern_rocknorthern_rocknorthern_trustnorthern_trustnuveen_investmentsnuveen_investmentsnymex_holdingsnymex_holdingsoccoccoko_bankoko_bankomega_healthcare_investorsomega_healthcare_investorsotp_bankotp_bankoversea_chinese_bankingoversea_chinese_bankingparmalatparmalatpnc_financial_servicespnc_financial_servicespopularpopularprudential_financialprudential_financialrabobankrabobankregions_financialregions_financialresidential_capitalresidential_capitalresona_holdingsresona_holdingsrheinland_pfalz_bankrheinland_pfalz_bankroyal_bank_of_canadaroyal_bank_of_canadaroyal_bank_of_scotlandroyal_bank_of_scotlandroyal_sun_allianceroyal_sun_alliancerzbrzbscotia_pacificscotia_pacificsebsebshinhan_financialshinhan_financialshinsei_bank_limitedshinsei_bank_limitedsivb_financialsivb_financialslmslmsns_banksns_banksociete_generalesociete_generalestandard_charteredstandard_charteredstate_bank_of_indiastate_bank_of_indiastate_streetstate_streetsumitomo_mitsui_bankingsumitomo_mitsui_bankingsuntrust_bankssuntrust_bankssvenska_handelsbankensvenska_handelsbankenswedbankswedbankswiss_reinsuranceswiss_reinsurancet_rowe_pricet_rowe_pricetd_ameritradetd_ameritradetoronto_dominiontoronto_dominionubsubsunicreditunicreditunionbancalunionbancalunipolunipolunited_overseas_bankunited_overseas_bankus_bancorpus_bancorpwaddell_reedwaddell_reedwashington_mutualwashington_mutualwells_fargowells_fargowestlbwestlbwestpacwestpacwoori_financialwoori_financialzions_bancorporationzions_bancorporationzurich_financialzurich_financialCredit & Investment ResearchCreditSightshttp://www.alacrastore.com/research/creditsights-UK_Mortgage_Lenders_Part_2_Sub_prime_Sub_plot-6056160561cs/60561normArticleTemplateThe UK sub-prime mortgage market is not facing the same meltdown as in the US, but we do expect increasing problems for lendersnkwofiesadamsonalliance_leicesterbritannia_building_societyhbosnorthern_rockalliance_leicesterbritannia_building_societyhbosnorthern_rockunited_kingdomunited_kingdom6056109 Nov 2009 11:51:57 ESTYes60561150CreditSights Inceuropeeuropebanksfinancial_servicesbanksfinancial_servicesPublishedmortgagessubprimemortgagessubprimeSectorCommentSector Analysis2546 UK Mortgage Lenders: Part # - Sub-prime Sub-plot The pressures that are building in the wider UK mortgage market are most dangerous in the sub-prime segment It is a smaller part of the mortgage market than in the US, and lending practices...aareal_bankaareal_bankabn_amroabn_amroaegonaegonaffiliated_managersaffiliated_managersalliance_leicesteralliance_leicesteralliancebernsteinalliancebernsteinallianzallianzallied_irishallied_irishamerican_expressamerican_expressameriprise_financialameriprise_financialamvescapamvescapanglo_irish_bankanglo_irish_bankanzanzassociated_bancassociated_bancastoria_financialastoria_financialavivaavivaaxaaxabanca_italeasebanca_italeasebanca_lombardabanca_lombardabanca_monte_dei_paschi_di_sienabanca_monte_dei_paschi_di_sienabanca_popolare_di_milanobanca_popolare_di_milanobanca_popolare_italianabanca_popolare_italianabancajabancajabanche_popolari_unitebanche_popolari_unitebanco_bilbao_vizcaya_argentariabanco_bilbao_vizcaya_argentariabanco_bradescobanco_bradescobanco_comercial_portuguesbanco_comercial_portuguesbanco_de_chilebanco_de_chilebanco_de_sabadell_sabanco_de_sabadell_sabanco_espirito_santobanco_espirito_santobanco_itaubanco_itaubanco_popolarebanco_popolarebanco_popular_espanolbanco_popular_espanolbanco_santander_central_hispanobanco_santander_central_hispanobangkok_bankbangkok_bankbank_of_americabank_of_americabank_of_chinabank_of_chinabank_of_communicationsbank_of_communicationsbank_of_east_asiabank_of_east_asiabank_of_irelandbank_of_irelandbank_of_montrealbank_of_montrealbank_of_new_york_mellonbank_of_new_york_mellonbank_of_nova_scotiabank_of_nova_scotiabankgesellschaft_berlinbankgesellschaft_berlinbarclaysbarclaysbawagbawagbayerische_landesbankbayerische_landesbankbbtbbtblackrockblackrockbnp_paribasbnp_paribasbradford_bingleybradford_bingleycaja_madridcaja_madridcapital_onecapital_onecapitaliacapitaliacharles_schwabcharles_schwabchina_citicchina_citicchina_construction_bankchina_construction_bankchina_international_capitalchina_international_capitalcibccibccitcitcitigroupcitigroupcomericacomericacommerzbankcommerzbankcommonwealth_bank_of_australiacommonwealth_bank_of_australiacorealcredit_bankcorealcredit_bankcredit_agricolecredit_agricolecredit_suissecredit_suissedaiwa_bankdaiwa_bankdanske_bankdanske_bankdepfa_bankdepfa_bankdeutsche_bankdeutsche_bankdexiadexiadnb_nordnb_nordowney_financialdowney_financialdz_bankdz_bankeaton_vanceeaton_vanceefg_eurobank_ergasiasefg_eurobank_ergasiasegg_plcegg_plcentenialentenialerste_bankerste_banketradeetradeeurekoeurekoeurohypoeurohypofdicfdicfederated_investorsfederated_investorsfifth_third_bancorpfifth_third_bancorpfirst_horizon_nationalfirst_horizon_nationalfortisfortisfranklin_resourcesfranklin_resourcesgamco_investorsgamco_investorsgeneral_electricgeneral_electricgeneral_electric_capitalgeneral_electric_capitalgeneral_motorsgeneral_motorsgeneraligeneraliglitnir_bankglitnir_bankgmacgmacgoldman_sachsgoldman_sachshannover_rehannover_rehboshboshome_depothome_depothousehold_internationalhousehold_internationalhsbc_financehsbc_financehsbc_holdingshsbc_holdingshsh_nordbankhsh_nordbankhuntington_bancshareshuntington_bancshareshvbhvbhypo_alpe_adria_bankhypo_alpe_adria_bankhypo_real_estate_bankhypo_real_estate_bankiasis_healthcareiasis_healthcareici_1ici_1ikb_deutsche_industriebankikb_deutsche_industriebankindustrial_and_commercial_bank_of_chinaindustrial_and_commercial_bank_of_chinaingingintesa_sanpaolointesa_sanpaoloirwinirwinjanus_capitaljanus_capitaljpmorgan_chasejpmorgan_chasejyske_bankjyske_bankkaupthing_bankkaupthing_bankkbc_bankkbc_bankkeycorpkeycorpkookmin_bankkookmin_bankla_caixala_caixalandesbank_baden_wuerttemberglandesbank_baden_wuerttemberglandesbank_berlinlandesbank_berlinlandesbank_sachsenlandesbank_sachsenlandsbankilandsbankilegg_masonlegg_masonlehman_brotherslehman_brotherslloyds_tsblloyds_tsbmalayan_bank_berhadmalayan_bank_berhadmarshall_ilsleymarshall_ilsleymillea_holdingsmillea_holdingsmitsubishi_ufj_financialmitsubishi_ufj_financialmizuho_holdingsmizuho_holdingsmorgan_stanleymorgan_stanleymt_bankmt_bankmunich_remunich_renational_australia_banknational_australia_banknational_bank_of_greecenational_bank_of_greecenationwide_building_societynationwide_building_societynatixisnatixisnew_century_financialnew_century_financialnew_york_communitynew_york_communitynibc_banknibc_banknomura_holdingsnomura_holdingsnorddeutsche_landesbanknorddeutsche_landesbanknordeanordeanorthern_rocknorthern_rocknorthern_trustnorthern_trustnuveen_investmentsnuveen_investmentsnymex_holdingsnymex_holdingsoccoccoko_bankoko_bankomega_healthcare_investorsomega_healthcare_investorsotp_bankotp_bankoversea_chinese_bankingoversea_chinese_bankingparmalatparmalatpnc_financial_servicespnc_financial_servicespopularpopularprudential_financialprudential_financialrabobankrabobankregions_financialregions_financialresidential_capitalresidential_capitalresona_holdingsresona_holdingsrheinland_pfalz_bankrheinland_pfalz_bankroyal_bank_of_canadaroyal_bank_of_canadaroyal_bank_of_scotlandroyal_bank_of_scotlandroyal_sun_allianceroyal_sun_alliancerzbrzbscotia_pacificscotia_pacificsebsebshinhan_financialshinhan_financialshinsei_bank_limitedshinsei_bank_limitedsivb_financialsivb_financialslmslmsns_banksns_banksociete_generalesociete_generalestandard_charteredstandard_charteredstate_bank_of_indiastate_bank_of_indiastate_streetstate_streetsumitomo_mitsui_bankingsumitomo_mitsui_bankingsuntrust_bankssuntrust_bankssvenska_handelsbankensvenska_handelsbankenswedbankswedbankswiss_reinsuranceswiss_reinsurancet_rowe_pricet_rowe_pricetd_ameritradetd_ameritradetoronto_dominiontoronto_dominionubsubsunicreditunicreditunionbancalunionbancalunipolunipolunited_overseas_bankunited_overseas_bankus_bancorpus_bancorpwaddell_reedwaddell_reedwashington_mutualwashington_mutualwells_fargowells_fargowestlbwestlbwestpacwestpacwoori_financialwoori_financialzions_bancorporationzions_bancorporationzurich_financialzurich_financialCredit & Investment ResearchCreditSightshttp://www.alacrastore.com/research/creditsights-UK_Mortgage_Lenders_Buy_To_Let_or_Buy_Too_Late-4999949999cs/49999normArticleTemplateUK mortgage lenders face a more difficult year, particularly in their specialist lending - we take a look at the state of the buy-to-let market.sadamsonalliance_leicesterbanco_santander_central_hispanobank_of_irelandbarclaysbradford_bingleybritannia_building_societyhboshsbc_holdingslloyds_tsbnationwide_building_societynorthern_rockroyal_bank_of_scotlandalliance_leicesterbanco_santander_central_hispanobank_of_irelandbarclaysbradford_bingleybritannia_building_societyhboshsbc_holdingslloyds_tsbnationwide_building_societynorthern_rockroyal_bank_of_scotlandunited_kingdomunited_kingdom4999909 Nov 2009 11:51:56 ESTYes49999150CreditSights Inceuropeeuropebanksfinancial_servicesbanksfinancial_servicesPublishedmortgagessubprimemortgagessubprimeSectorCommentSector Analysis2386 UK Mortgage Lenders: Buy-To-Let, or Buy-Too-Late? The UK housing market should remain robust in #### despite rising interest rates and slowing house price inflation But specialist mortgage lending, in particular the buy-to-let sector,...aareal_bankaareal_bankabn_amroabn_amroaegonaegonaffiliated_managersaffiliated_managersalliance_leicesteralliance_leicesteralliancebernsteinalliancebernsteinallianzallianzallied_irishallied_irishamerican_expressamerican_expressameriprise_financialameriprise_financialamvescapamvescapanglo_irish_bankanglo_irish_bankanzanzassociated_bancassociated_bancastoria_financialastoria_financialavivaavivaaxaaxabanca_italeasebanca_italeasebanca_lombardabanca_lombardabanca_monte_dei_paschi_di_sienabanca_monte_dei_paschi_di_sienabanca_popolare_di_milanobanca_popolare_di_milanobanca_popolare_italianabanca_popolare_italianabancajabancajabanche_popolari_unitebanche_popolari_unitebanco_bilbao_vizcaya_argentariabanco_bilbao_vizcaya_argentariabanco_bradescobanco_bradescobanco_comercial_portuguesbanco_comercial_portuguesbanco_de_chilebanco_de_chilebanco_de_sabadell_sabanco_de_sabadell_sabanco_espirito_santobanco_espirito_santobanco_itaubanco_itaubanco_popolarebanco_popolarebanco_popular_espanolbanco_popular_espanolbanco_santander_central_hispanobanco_santander_central_hispanobangkok_bankbangkok_bankbank_of_americabank_of_americabank_of_chinabank_of_chinabank_of_communicationsbank_of_communicationsbank_of_east_asiabank_of_east_asiabank_of_irelandbank_of_irelandbank_of_montrealbank_of_montrealbank_of_new_york_mellonbank_of_new_york_mellonbank_of_nova_scotiabank_of_nova_scotiabankgesellschaft_berlinbankgesellschaft_berlinbarclaysbarclaysbawagbawagbayerische_landesbankbayerische_landesbankbbtbbtblackrockblackrockbnp_paribasbnp_paribasbradford_bingleybradford_bingleycaja_madridcaja_madridcapital_onecapital_onecapitaliacapitaliacharles_schwabcharles_schwabchina_citicchina_citicchina_construction_bankchina_construction_bankchina_international_capitalchina_international_capitalcibccibccitcitcitigroupcitigroupcomericacomericacommerzbankcommerzbankcommonwealth_bank_of_australiacommonwealth_bank_of_australiacorealcredit_bankcorealcredit_bankcredit_agricolecredit_agricolecredit_suissecredit_suissedaiwa_bankdaiwa_bankdanske_bankdanske_bankdepfa_bankdepfa_bankdeutsche_bankdeutsche_bankdexiadexiadnb_nordnb_nordowney_financialdowney_financialdz_bankdz_bankeaton_vanceeaton_vanceefg_eurobank_ergasiasefg_eurobank_ergasiasegg_plcegg_plcentenialentenialerste_bankerste_banketradeetradeeurekoeurekoeurohypoeurohypofdicfdicfederated_investorsfederated_investorsfifth_third_bancorpfifth_third_bancorpfirst_horizon_nationalfirst_horizon_nationalfortisfortisfranklin_resourcesfranklin_resourcesgamco_investorsgamco_investorsgeneral_electricgeneral_electricgeneral_electric_capitalgeneral_electric_capitalgeneral_motorsgeneral_motorsgeneraligeneraliglitnir_bankglitnir_bankgmacgmacgoldman_sachsgoldman_sachshannover_rehannover_rehboshboshome_depothome_depothousehold_internationalhousehold_internationalhsbc_financehsbc_financehsbc_holdingshsbc_holdingshsh_nordbankhsh_nordbankhuntington_bancshareshuntington_bancshareshvbhvbhypo_alpe_adria_bankhypo_alpe_adria_bankhypo_real_estate_bankhypo_real_estate_bankiasis_healthcareiasis_healthcareici_1ici_1ikb_deutsche_industriebankikb_deutsche_industriebankindustrial_and_commercial_bank_of_chinaindustrial_and_commercial_bank_of_chinaingingintesa_sanpaolointesa_sanpaoloirwinirwinjanus_capitaljanus_capitaljpmorgan_chasejpmorgan_chasejyske_bankjyske_bankkaupthing_bankkaupthing_bankkbc_bankkbc_bankkeycorpkeycorpkookmin_bankkookmin_bankla_caixala_caixalandesbank_baden_wuerttemberglandesbank_baden_wuerttemberglandesbank_berlinlandesbank_berlinlandesbank_sachsenlandesbank_sachsenlandsbankilandsbankilegg_masonlegg_masonlehman_brotherslehman_brotherslloyds_tsblloyds_tsbmalayan_bank_berhadmalayan_bank_berhadmarshall_ilsleymarshall_ilsleymillea_holdingsmillea_holdingsmitsubishi_ufj_financialmitsubishi_ufj_financialmizuho_holdingsmizuho_holdingsmorgan_stanleymorgan_stanleymt_bankmt_bankmunich_remunich_renational_australia_banknational_australia_banknational_bank_of_greecenational_bank_of_greecenationwide_building_societynationwide_building_societynatixisnatixisnew_century_financialnew_century_financialnew_york_communitynew_york_communitynibc_banknibc_banknomura_holdingsnomura_holdingsnorddeutsche_landesbanknorddeutsche_landesbanknordeanordeanorthern_rocknorthern_rocknorthern_trustnorthern_trustnuveen_investmentsnuveen_investmentsnymex_holdingsnymex_holdingsoccoccoko_bankoko_bankomega_healthcare_investorsomega_healthcare_investorsotp_bankotp_bankoversea_chinese_bankingoversea_chinese_bankingparmalatparmalatpnc_financial_servicespnc_financial_servicespopularpopularprudential_financialprudential_financialrabobankrabobankregions_financialregions_financialresidential_capitalresidential_capitalresona_holdingsresona_holdingsrheinland_pfalz_bankrheinland_pfalz_bankroyal_bank_of_canadaroyal_bank_of_canadaroyal_bank_of_scotlandroyal_bank_of_scotlandroyal_sun_allianceroyal_sun_alliancerzbrzbscotia_pacificscotia_pacificsebsebshinhan_financialshinhan_financialshinsei_bank_limitedshinsei_bank_limitedsivb_financialsivb_financialslmslmsns_banksns_banksociete_generalesociete_generalestandard_charteredstandard_charteredstate_bank_of_indiastate_bank_of_indiastate_streetstate_streetsumitomo_mitsui_bankingsumitomo_mitsui_bankingsuntrust_bankssuntrust_bankssvenska_handelsbankensvenska_handelsbankenswedbankswedbankswiss_reinsuranceswiss_reinsurancet_rowe_pricet_rowe_pricetd_ameritradetd_ameritradetoronto_dominiontoronto_dominionubsubsunicreditunicreditunionbancalunionbancalunipolunipolunited_overseas_bankunited_overseas_bankus_bancorpus_bancorpwaddell_reedwaddell_reedwashington_mutualwashington_mutualwells_fargowells_fargowestlbwestlbwestpacwestpacwoori_financialwoori_financialzions_bancorporationzions_bancorporationzurich_financialzurich_financialCredit & Investment ResearchCreditSightshttp://www.alacrastore.com/research/creditsights-Euro_Financial_Movers_Break_ING_Up_Is_Hard_To_Do-9065490654cs/90654normArticleTemplateING set last week's theme, which was all about breaking up. It's hard to do these days, without making losses on forced sales. But it might be imposed on others, and the treatment of hybrids, while positive in ING's case, is hard to guess.jraymondsadamsonaegondeutsche_bankdexiainglloyds_tsbnorthern_rockaegondeutsche_bankdexiainglloyds_tsbnorthern_rock9065402 Nov 2009 03:10:35 ESTYes90654150CreditSights Inceuropeeuropebanksfinancial_servicesinsurancebanksinsurancefinancial_servicesPublishedeuroFinancialMoversEuro Financial Movers1119 Euro Financial Movers: Break-ING Up Is Hard To Do After ING's surprise break-up, the markets are trying to second-guess what regulators will force on other restructuring groups For equities, the implications of possible forced sales...aareal_bankabn_amroace_limitedaegonaetnaaffiliated_managersaflacaigalliance_leicesteralliancebernsteinallianzallied_irishallstateambacamerican_expressamerican_general_financeamerican_national_insuranceameriprise_financialamerusamvescapanglo_irish_bankanzaonarch_capitalassociated_bancassurantassured_guarantyastoria_financialavivaaxabanca_italeasebanca_lombardabanca_monte_dei_paschi_di_sienabanca_popolare_di_milanobanca_popolare_italianabancajabanche_popolari_unitebanco_bilbao_vizcaya_argentariabanco_bradescobanco_comercial_portuguesbanco_de_chilebanco_de_sabadell_sabanco_espirito_santobanco_itaubanco_popolarebanco_popular_espanolbanco_santander_central_hispanobangkok_bankbank_of_americabank_of_chinabank_of_communicationsbank_of_east_asiabank_of_irelandbank_of_montrealbank_of_new_york_mellonbank_of_nova_scotiabankgesellschaft_berlinbarclaysbawagbayerische_landesbankbbtberkshire_hathawayblackrockbnp_paribasbradford_bingleycaja_madridcapital_onecapitaliace_generationchannel_reinsurancecharles_schwabchina_citicchina_construction_bankchina_international_capitalchubbcibccignacincinnati_financialcitcitigroupcna_financialcomericacommerzbankcommonwealth_bank_of_australiacorealcredit_bankcredit_agricolecredit_suissedaiwa_bankdanske_bankdepfa_bankdeutsche_bankdexiadnb_nordowney_financialdz_bankeaton_vanceefg_eurobank_ergasiasegg_plcentenialerste_banketradeeurekoeurohypoeverest_reinsurancefairfax_financialfdicfederated_investorsfgicfifth_third_bancorpfirst_horizon_nationalfortisfranklin_resourcesgamco_investorsgeneral_electricgeneral_electric_capitalgeneral_motorsgeneral_regeneraligenworth_financialglitnir_bankgmacgoldman_sachshannover_reharleysvillehartford_financialhboshcc_industrieshome_depothousehold_internationalhsbc_financehsbc_holdingshsh_nordbankhumanahuntington_bancshareshvbhypo_alpe_adria_bankhypo_real_estate_bankiasis_healthcareici_1ikb_deutsche_industriebankindustrial_and_commercial_bank_of_chinainginternational_lease_financeintesa_sanpaoloirwinjackson_national_life_insurancejanus_capitaljohn_hancock_financialjpmorgan_chasejyske_bankkaupthing_bankkbc_bankkeycorpkookmin_bankla_caixalandesbank_baden_wuerttemberglandesbank_berlinlandesbank_sachsenlandsbankilegg_masonlehman_brothersliberty_mutuallincoln_nationallloyds_tsbmalayan_bank_berhadmarsh_mclennanmarshall_ilsleymbiametlifemgic_investmentmidamerican_energy_holdingsmidamerican_fundingmillea_holdingsmitsubishi_ufj_financialmitsui_sumitomo_insurancemizuho_holdingsmontpelier_remorgan_stanleymt_bankmunich_renational_australia_banknational_bank_of_greecenationwide_building_societynationwide_financialnatixisnavigatorsnew_century_financialnew_york_communitynew_york_life_insurancenibc_banknomura_holdingsnorddeutsche_landesbanknordeanorthern_rocknorthern_trustnuveen_investmentsnymex_holdingsoccodyssey_reoko_bankomega_healthcare_investorsotp_bankoversea_chinese_bankingparmalatphoenix_companiespmipnc_financial_servicespopularprincipal_financialprogressiveprotective_lifeprudential_financialrabobankradianregions_financialreinsurance_of_americarenaissancereresidential_capitalresona_holdingsrheinland_pfalz_bankroyal_bank_of_canadaroyal_bank_of_scotlandroyal_sun_alliancerzbsafecosalton_seascorscotia_pacificscottish_resebshinhan_financialshinsei_bank_limitedsivb_financialslmsns_banksociete_generalestandard_charteredstandard_lifestate_bank_of_indiastate_farmstate_streetsumitomo_mitsui_bankingsuntrust_bankssvenska_handelsbankenswedbankswiss_reinsurancesymetra_financialsyncora_holdingst_rowe_pricetd_ameritradetoronto_dominiontravelers_companiesubsunicreditunionbancalunipolunited_overseas_bankunitedhealthunumus_bancorpwaddell_reedwashington_mutualwellpointwells_fargowestlbwestpacwhite_mountainswilliswoori_financialxl_capitalzions_bancorporationzurich_financialCredit & Investment ResearchCreditSightshttp://www.alacrastore.com/storecontent/moodys/CMT_0000512992CMT_0000512992moodys/CMT_0000512992html01 Nov 2009 06:04:29 ESThtmlNorthern Rock plcNorthern Rock plc9380093800150.000030 Oct 2009NewsIssuer CommentCGlobal Credit Research Issuer Comment ## OCT #### Issuer Comment: Northern Rock plc Moody's comments on Northern Rock's ratings following the European Commission's approval of the bank's restructuring Moody's Investors Service today...Credit & Investment ResearchMoody's Global Credit Researchhttp://www.alacrastore.com/research/s-and-p-credit-research-Northern_Rock_700_Million_5_6_Upper_Tier_2_Subordinated_Debt_Rating_Lowered_To_C_Due_To_Nonpayment_Of_Coupon-754491754491spcred/754491normglobalstructured30 Oct 2009 01:23:00 EST100NewsThe latest News from S&PUnited KingdomThrifts & Mortgage FinanceEurope, Middle East, AfricaGlobal IssuersStructured FinanceNewsGBR66567566567E66567F66567G6656P06656P16656P26656P36656P4G6639QG6640T40102010 401020 4010 40Northern Rock PLC116601EUROMIDAFRNRK@LNNEWSCMBSFIGLOBISSRMBSSTRUCCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/bir/478243478243bir/478243norm9Northern Rock PLCUnited Kingdom30 Oct 2009 06:32:00 ESTFinance: Provision of housing finance, savings and a range of related personal financial and banking services.OTC522292M6162G5221206035NRKFinance: Provision of housing finance, savings and a range of related personal financial and banking services.Company Profiles & FinancialsGale Company Profileshttp://www.alacrastore.com/research/creditsights-Northern_Rock_EC_Approves_Split_Details_Missing-9047890478cs/90478normWWTemplatesadamsonnorthern_rocknorthern_rockunited_kingdomunited_kingdom9047828 Oct 2009 11:08:51 ESTYes90478150CreditSights Inceuropeeuropebanksfinancial_servicesbanksfinancial_servicesPublishedeuro_markets_issuerseuro_markets_issuersWorthWatchingWorth Watching473 Northern Rock: EC Approves Split - Details Missing Northern Rock (A#/A▼/A-►) has had its proposed restructuring approved by the European Commission under state aid rules. It will therefore be split into a 'good bank' (Northern...Credit & Investment ResearchCreditSightshttp://www.alacrastore.com/storecontent/moodys/PR_188853_97400PR_188853_97400moodys/PR_188853_97400html21 Oct 2009 05:14:20 ESThtmlAbbey National plcAlliance & Leicester plcBank of Scotland plcBarclays Bank PLCBradford & Bingley plcBritannia Building SocietyChelsea Building SocietyClose Brothers Ltd.Clydesdale Bank plcCo-Operative Bank PlcCoventry Building SocietyFairbairn Private Bank LimitedHBOS plcHSBC Bank plcHSBC Holdings plcICICI Bank UK Plc.Investec Bank Ltd.Leeds Building SocietyLloyds TSB Bank PlcLloyds TSB Offshore LimitedNationwide Building SocietyNewcastle Building SocietyNorthern Rock plcNorwich & Peterborough Building SocietyNottingham Building SocietyPrincipality Building SocietyRoyal Bank of Scotland plcSkipton Building SocietyStandard Bank PlcStandard Life Bank PlcWest Bromwich Building SocietyYorkshire Building SocietyAbbey National plc; Alliance & Leicester plc; Bank of Scotland plc; ...18486020662183219525132889449565494680600009140600011741600017781600022369600022421600022435600044020600044220600045531600045746600048725600061478600066256651920808487273808732499809725302815150820835992877609150925009380097400150.000020 Oct 2009NewsAnnouncementCGlobal Credit Research Announcement ## OCT #### Announcement: Yorkshire Building Society Moody's explains assumptions behind its estimates of UK banks' credit losses London, ## October #### -- As part of its global framework for estimating...Credit & Investment ResearchMoody's Global Credit Researchhttp://www.alacrastore.com/storecontent/fitch/515576_pr_frame515576_pr_framefitch/515576_pr_framehtmlAbbey National Treasury Services PlcABN AMRO Bank N.V.AIB Mortgage BankAnglo Irish Bank Corporation LimitedBA Covered Bond Issuer (BACBI)Banco Espirito Santo SA (BES)Bank of Ireland (Governor & CO)Bank of Scotland plcBerlin Hannoversche Hypothekenbank AGBradford & Bingley plcCIF EuromortgageClydesdale Bank plcCompagnie de Financement FoncierDepfa Acs BankDeutsche Genossenschafts-Hypothekenbank AGDeutsche Pfandbriefbank AGDZ Bank AG Deutsche Zentral GenossenschaftsbankEurohypo AGHSBC Bank PLCING Bank N.V.Lloyds TSB Bank plcNorthern Rock plcThe Bank of Nova ScotiaWM Covered Bond ProgramWuestenrot Bank AG Pfandbriefbank80089144803595558035955680359643803596958035970180359702803599148035991580359917803599308035998180360473803606148036061880361082803611578036241480426796812406538289894583361270837784718498167386873938870925718751398207 Oct 2009 10:22:23 EST010101000101070085Press ReleaseBESBHHBIRBNSFitch Ratings is a leading global rating agency committed to providing the world's credit markets with independent, timely and prospective credit opinions. Built on a foundation of organic growth and strategic acquisitions, Fitch Ratings has grown rapidly during the past decade gaining market presence throughout the world and across all fixed income markets.Credit & Investment ResearchFitch Researchhttp://www.alacrastore.com/storecontent/fitch/511037_pr_frame511037_pr_framefitch/511037_pr_framehtmlNorthern Rock plc8035998124 Sep 2009 10:21:15 EST0101010085Press ReleaseFitch Ratings is a leading global rating agency committed to providing the world's credit markets with independent, timely and prospective credit opinions. Built on a foundation of organic growth and strategic acquisitions, Fitch Ratings has grown rapidly during the past decade gaining market presence throughout the world and across all fixed income markets.Credit & Investment ResearchFitch Researchhttp://www.alacrastore.com/research/s-and-p-credit-research-Northern_Rock_Reserve_Capital_Instruments_And_Tier_One_Notes_Downgraded_To_C_Due_To_Deferral_Of_Coupons-747548747548spcred/747548normglobalstructured21 Sep 2009 08:16:11 EST100NewsThe latest News from S&PUnited KingdomThrifts & Mortgage FinanceEurope, Middle East, AfricaGlobal IssuersStructured FinanceNewsGBR66567566567E66567F66567G6656P06656P16656P26656P36656P4G6639QG6640T40102010 401020 4010 40Northern Rock PLC116601EUROMIDAFRNRK@LNNEWSCMBSFIGLOBISSRMBSSTRUCCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/moodys/PR_186617_97400PR_186617_97400moodys/PR_186617_97400html15 Sep 2009 04:36:36 ESThtmlYorkshire Building SocietyNorthern Rock plcBarclays Bank PLCAbbey National plcBank of Scotland plcStandard Life Bank plcLloyds TSB Offshore LimitedCoventry Building SocietyICICI Bank UK Plc.Nottingham Building SocietyStandard Bank PlcRoyal Bank of Scotland Group plcRoyal Bank of Scotland plcFairbairn Private Bank LimitedHBOS plcNewcastle Building SocietyLeeds Building SocietyNorwich & Peterborough Building SocietySkipton Building SocietyWest Bromwich Building SocietyPrincipality Building SocietyChelsea Building SocietyInvestec Bank Ltd.Close Brothers Ltd.HSBC Holdings plcHSBC Bank plcLloyds TSB Bank PlcCo-Operative Bank PlcNationwide Building SocietyBritannia Building SocietyBradford & Bingley plcAlliance & Leicester plcClydesdale Bank plcAbbey National plc; Alliance & Leicester plc; Bank of Scotland plc; ...97400938009250091508776082104497482083599281515080972530280873249980848727380678910565192565192060006625660006147860004574660004553160004422060004402060002243560002242160002236960001778160001174160000914049468044956528892513219521832066184860150.000014 Sep 2009NewsAnnouncementCGlobal Credit Research Announcement ## SEP #### Announcement: Yorkshire Building Society Moody's outlook for UK banks remains negative London, ## September #### -- The fundamental credit outlook for the UK banking system remains negative,...Credit & Investment ResearchMoody's Global Credit Researchhttp://www.alacrastore.com/storecontent/fitch/463088_report_frame463088_report_framefitch/463088_report_framepdfNorthern Rock plc8035998124 Aug 2009 10:14:00 EST01010100165Credit UpdateFitch Ratings is a leading global rating agency committed to providing the world's credit markets with independent, timely and prospective credit opinions. Built on a foundation of organic growth and strategic acquisitions, Fitch Ratings has grown rapidly during the past decade gaining market presence throughout the world and across all fixed income markets.Credit & Investment ResearchFitch Researchhttp://www.alacrastore.com/research/creditsights-Euro_Financial_Movers_Hybrids_D_Day-8823488234cs/88234normArticleTemplateEncouraging signs of recovery in the banking sector were overshadowed by continuing concerns over interest deferral on hybrid securitiesjraymondsadamsonbanco_bilbao_vizcaya_argentariadnb_norhsbc_holdingsnorthern_rocksebswedbankubswestpacbanco_bilbao_vizcaya_argentariadnb_norhsbc_holdingsnorthern_rocksebswedbankubswestpacaustraliaaustralia8823424 Aug 2009 03:08:00 ESTYes88234150CreditSights Inceuropeeuropebanksfinancial_servicesinsurancebanksinsurancefinancial_servicesPublishedeuroFinancialMoversEuro Financial Movers1068 Euro Financial Movers: Hybrids D-Day The talk in bond markets was again dominated by speculation over the European Commission's moves to stop banks paying discretionary coupons With HSBC calling a Lower Tier # bond, the Swiss government...aareal_bankaareal_bankabn_amroabn_amroace_limitedace_limitedaegonaegonaetnaaetnaaffiliated_managersaffiliated_managersaflacaflacaigaigalliance_leicesteralliance_leicesteralliancebernsteinalliancebernsteinallianzallianzallied_irishallied_irishallstateallstateambacambacamerican_expressamerican_expressamerican_general_financeamerican_general_financeamerican_national_insuranceamerican_national_insuranceameriprise_financialameriprise_financialamerusamerusamvescapamvescapanglo_irish_bankanglo_irish_bankanzanzaonaonarch_capitalarch_capitalassociated_bancassociated_bancassurantassurantassured_guarantyassured_guarantyastoria_financialastoria_financialavivaavivaaxaaxabanca_italeasebanca_italeasebanca_lombardabanca_lombardabanca_monte_dei_paschi_di_sienabanca_monte_dei_paschi_di_sienabanca_popolare_di_milanobanca_popolare_di_milanobanca_popolare_italianabanca_popolare_italianabancajabancajabanche_popolari_unitebanche_popolari_unitebanco_bilbao_vizcaya_argentariabanco_bilbao_vizcaya_argentariabanco_bradescobanco_bradescobanco_comercial_portuguesbanco_comercial_portuguesbanco_de_chilebanco_de_chilebanco_de_sabadell_sabanco_de_sabadell_sabanco_espirito_santobanco_espirito_santobanco_itaubanco_itaubanco_popolarebanco_popolarebanco_popular_espanolbanco_popular_espanolbanco_santander_central_hispanobanco_santander_central_hispanobangkok_bankbangkok_bankbank_of_americabank_of_americabank_of_chinabank_of_chinabank_of_communicationsbank_of_communicationsbank_of_east_asiabank_of_east_asiabank_of_irelandbank_of_irelandbank_of_montrealbank_of_montrealbank_of_new_york_mellonbank_of_new_york_mellonbank_of_nova_scotiabank_of_nova_scotiabankgesellschaft_berlinbankgesellschaft_berlinbarclaysbarclaysbawagbawagbayerische_landesbankbayerische_landesbankbbtbbtberkshire_hathawayberkshire_hathawayblackrockblackrockbnp_paribasbnp_paribasbradford_bingleybradford_bingleycaja_madridcaja_madridcapital_onecapital_onecapitaliacapitaliace_generationce_generationchannel_reinsurancechannel_reinsurancecharles_schwabcharles_schwabchina_citicchina_citicchina_construction_bankchina_construction_bankchina_international_capitalchina_international_capitalchubbchubbcibccibccignacignacincinnati_financialcincinnati_financialcitcitcitigroupcitigroupcna_financialcna_financialcomericacomericacommerzbankcommerzbankcommonwealth_bank_of_australiacommonwealth_bank_of_australiacorealcredit_bankcorealcredit_bankcredit_agricolecredit_agricolecredit_suissecredit_suissedaiwa_bankdaiwa_bankdanske_bankdanske_bankdepfa_bankdepfa_bankdeutsche_bankdeutsche_bankdexiadexiadnb_nordnb_nordowney_financialdowney_financialdz_bankdz_bankeaton_vanceeaton_vanceefg_eurobank_ergasiasefg_eurobank_ergasiasegg_plcegg_plcentenialentenialerste_bankerste_banketradeetradeeurekoeurekoeurohypoeurohypoeverest_reinsuranceeverest_reinsurancefairfax_financialfairfax_financialfdicfdicfederated_investorsfederated_investorsfgicfgicfifth_third_bancorpfifth_third_bancorpfirst_horizon_nationalfirst_horizon_nationalfortisfortisfranklin_resourcesfranklin_resourcesgamco_investorsgamco_investorsgeneral_electricgeneral_electricgeneral_electric_capitalgeneral_electric_capitalgeneral_motorsgeneral_motorsgeneral_regeneral_regeneraligeneraligenworth_financialgenworth_financialglitnir_bankglitnir_bankgmacgmacgoldman_sachsgoldman_sachshannover_rehannover_reharleysvilleharleysvillehartford_financialhartford_financialhboshboshcc_industrieshcc_industrieshome_depothome_depothousehold_internationalhousehold_internationalhsbc_financehsbc_financehsbc_holdingshsbc_holdingshsh_nordbankhsh_nordbankhumanahumanahuntington_bancshareshuntington_bancshareshvbhvbhypo_alpe_adria_bankhypo_alpe_adria_bankhypo_real_estate_bankhypo_real_estate_bankiasis_healthcareiasis_healthcareici_1ici_1ikb_deutsche_industriebankikb_deutsche_industriebankindustrial_and_commercial_bank_of_chinaindustrial_and_commercial_bank_of_chinainginginternational_lease_financeinternational_lease_financeintesa_sanpaolointesa_sanpaoloirwinirwinjackson_national_life_insurancejackson_national_life_insurancejanus_capitaljanus_capitaljohn_hancock_financialjohn_hancock_financialjpmorgan_chasejpmorgan_chasejyske_bankjyske_bankkaupthing_bankkaupthing_bankkbc_bankkbc_bankkeycorpkeycorpkookmin_bankkookmin_bankla_caixala_caixalandesbank_baden_wuerttemberglandesbank_baden_wuerttemberglandesbank_berlinlandesbank_berlinlandesbank_sachsenlandesbank_sachsenlandsbankilandsbankilegg_masonlegg_masonlehman_brotherslehman_brothersliberty_mutualliberty_mutuallincoln_nationallincoln_nationallloyds_tsblloyds_tsbmalayan_bank_berhadmalayan_bank_berhadmarsh_mclennanmarsh_mclennanmarshall_ilsleymarshall_ilsleymbiambiametlifemetlifemgic_investmentmgic_investmentmidamerican_energy_holdingsmidamerican_energy_holdingsmidamerican_fundingmidamerican_fundingmillea_holdingsmillea_holdingsmitsubishi_ufj_financialmitsubishi_ufj_financialmitsui_sumitomo_insurancemitsui_sumitomo_insurancemizuho_holdingsmizuho_holdingsmontpelier_remontpelier_remorgan_stanleymorgan_stanleymt_bankmt_bankmunich_re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& Investment ResearchCreditSightshttp://www.alacrastore.com/storecontent/fitch/462828_report_frame462828_report_framefitch/462828_report_framepdfBank of Scotland plcLloyds Banking Group PLCThe Royal Bank of Scotland plcNational Westminster Bank plcBradford & Bingley plcLloyds TSB Bank plcHBOS plcThe Royal Bank of Scotland Group plcNorthern Rock plc8035991480089712803605498008967180362319804171798035998180359915803595468035993020 Aug 2009 02:16:00 EST01010100275Special ReportRBSLLOYFitch Ratings is a leading global rating agency committed to providing the world's credit markets with independent, timely and prospective credit opinions. Built on a foundation of organic growth and strategic acquisitions, Fitch Ratings has grown rapidly during the past decade gaining market presence throughout the world and across all fixed income markets.Credit & Investment ResearchFitch Researchhttp://www.alacrastore.com/research/s-and-p-credit-research-Northern_Rock_Hybrid_And_Lower_Tier_2_Securities_Downgraded_To_CC_And_CCC_On_Announced_Hybrid_Coupon_Deferral-741035741035spcred/741035normglobalstructured19 Aug 2009 01:01:00 EST100NewsThe latest News from S&PUnited KingdomThrifts & Mortgage FinanceEurope, Middle East, AfricaGlobal IssuersStructured FinanceNewsGBR66567566567E66567F66567G6656P06656P16656P26656P36656P4G6639QG6640T40102010 401020 4010 40Northern Rock PLC116601EUROMIDAFRNRK@LNNEWSGBR10421J10421K10421M10421N1042ZM40102010 401020 4010 40Bradford&Bingley PLC114972EUROMIDAFRBB/@LNCMBSFIGLOBISSLEVFINRMBSSTRUCCredit & Investment ResearchS&P Credit Research