S&PCORRECT: Guarantor Of RBS Capital Funding Trust V, VI, And VII Issues Corrected To ABN AMRO Holding N.V. - 2009/11/05 - S&P Credit Research

Report title: S&PCORRECT: Guarantor Of RBS Capital Funding Trust V, VI, And VII Issues Corrected To ABN AMRO Holding N.V.

from S&P Credit Research
978 word report published Nov 05, 2009

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Abstract:

LONDON (Standard&Poor's) Nov. 5, 2009--Standard&Poor's Ratings Services today corrected an error relating to the subordinated guarantor of perpetual capital instruments issued by RBS Capital Funding Trust V, RBS Capital Funding Trust VI, and RBS Capital Funding Trust VII. Following our rating actions on The Royal Bank of Scotland Group PLC (A/Stable/A-1) and its hybrid capital issues on Nov. 3, 2009, the subordinated guarantor of the issues from the above entities was inadvertently misidentified due to an administrative error. We have now rectified this error and the subordinated guarantor is listed as ABN AMRO Holding N.V. (not rated). The ratings on the perpetual capital instruments issued by the trusts are unaffected (please see the Ratings List below

Brief Excerpt:

RESEARCH Ratings Definitions S&PCORRECT: Guarantor Of RBS Capital Funding Trust V, VI, And VII Issues Corrected To ABN AMRO Holding N.V. Publication date: 05-Nov-2009 Primary Credit Analyst: Richard Barnes, London (44) 20-7176-7227;...

Report Type:

Ratings Action

Ticker:

RBS@LN

Issuer:

Royal Bank of Scotland Group PLC (The)

GICS:

Diversified Banks (40101010)

Sector:

Global Issuers, Public Finance, Structured Finance

Country:

United Kingdom

Region:

United States

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S&P Credit Research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.

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