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S&P Credit Research888 word report
published Jun 03, 2009
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S&P Credit Research
| Abstract: | The ratings on The Royal Bank of Scotland Group PLC (RBSG)--the ultimate holding company of The Royal Bank of Scotland PLC (RBS; A+/Stable/A-1) primarily reflect the strong support received from the U.K. government (AAA/Negative/A-1+). RBSG is currently about 70% owned by the state and its forthcoming entry into the government's Asset Protection Scheme (APS) will in our opinion further support RBSG's capitalization and provide significant insurance risk against outsized losses on over £300 billion of RBSG's assets. The ratings remain impacted by our view of reputational damage that arose in 2008 and weaknesses in RBSG's financial profile. The ratings also reflect the complicated task facing a new management team to execute a major strategic review, demonstrate improved risk management, and
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| Brief Excerpt: | RESEARCH Ratings Definitions Summary: Royal Bank of Scotland Group PLC (The) Publication date: 03-Jun-2009 Primary Credit Analyst: Nigel Greenwood, London (44) 20-7176-7211; nigel_greenwood@standardandpoors.com Secondary Credit Analyst:...
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| Report Type: | Summary
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| Ticker: | RBS@LN
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| Issuer: | Royal Bank of Scotland Group PLC (The)
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| GICS: | Diversified Banks (40101010)
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| Sector: | Global Issuers, Structured Finance
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| Country: | United Kingdom
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| Region: | United States
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| Free Sample: |
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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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LONDON (Standard&Poor's) March 24, 2009--Standard&Poor's Ratings Services said today that it lowered its ratings on various hybrid capital securities (Hybrids) issued by The Royal Bank of Scotland Group PLC (RBSG; A/Stable/A-1) by one notch ...
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LONDON (Standard&Poor's) March 9, 2009--On Feb. 26, 2009, U.K. bank holding company The Royal Bank of Scotland Group PLC (RBSG; A/Stable/A-1; main operating entities rated A+/Stable/A-1) made multiple announcements covering its 2008 results, ...
