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S&P Credit Research978 word report
published Sep 29, 2008
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S&P Credit Research
| Abstract: | LONDON (Standard&Poor's) Sept. 29, 2008--Standard&Poor's Ratings Services said today that it has raised its short-term counterparty credit rating on U.K. mortgage lender Bradford&Bingley PLC (B&B) to 'A-1' from 'A-3'. The rating was also removed from CreditWatch, where it had been originally been placed with negative implications on Feb. 19, 2008. "This rating action follows the U.K. government's announcement today that B&B has been nationalized, with the bank's retail deposits and branches sold to Abbey National PLC," said Standard&Poor's credit analyst Nick Hill. "These actions have been taken to maintain B&B's financial stability and safeguard deposits following mounting concern in the marketplace about the bank's long-term viability." This concern had increased the risk
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| Brief Excerpt: | RESEARCH Ratings Definitions U.K. Bank Bradford & Bingley Short-Term Rating Raised To 'A-1' On Nationalization; Off Watch Publication date: 29-Sep-2008 Primary Credit Analyst: Nick Hill, London (44) 20-7176-7216; nick_hill@standardandpoors.com...
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| Report Type: | Ratings Action
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| Ticker: | BB/@LN
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| Issuer: | Bradford&Bingley PLC
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| GICS: | Thrifts & Mortgage Finance (40102010)
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| Sector: | Global Issuers, Public Finance, Structured Finance
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| Country: | United Kingdom
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| Region: | Europe, Middle East, Africa
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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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- Summary: Bradford&Bingley PLC $175.00
The ratings on Bradford&Bingley PLC (B&B) reflect our view of its 100% ownership by the U.K. government, following B&B's nationalization in September 2008. State ownership and its associated support provide B&B with substantial liquidity resources ...
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- Research Update: Bradford&Bingley S-T Rating Raised To 'A-1' From 'SD' Following Distressed Exchange On Lower Tier 2 Notes $175.00
On March 18, 2009, Standard&Poor's Ratings Services raised its short-term counterparty credit rating on Bradford&Bingley PLC (B&B) to 'A-1' from 'SD' (selective default). This follows yesterday's downgrade to 'SD', reflecting a distressed exchange ...
- Bradford&Bingley Rating Lowered To 'SD' From 'A-1' For One Day, Reflecting Distressed Exchange On Lower Tier 2 Notes $100.00
LONDON (Standard&Poor's) March 17, 2009--Standard&Poor's Ratings Services said today it lowered its short-term counterparty credit rating on Bradford&Bingley PLC (B&B) to 'SD' from 'A-1'. This rating action will last one day, after which Standard&Poor's ...
- Research Update: Bradford&Bingley Rating Lowered To 'SD' From 'A-1' For One Day, Reflecting Distressed Exchange On Lower Tier 2 Notes $175.00
On March 17, 2009, Standard&Poor's Ratings Services lowered its short-term counterparty credit rating on Bradford&Bingley PLC (B&B) to 'SD' from 'A-1'. This rating action will last one day, after which Standard&Poor's intends, in accordance ...
- Research Update: U.K. Bank Bradford&Bingley Short-Term Rating Raised To 'A-1' On Nationalization; Off Watch $175.00
On Sept. 29, 2008, Standard&Poor's Ratings Services raised its short-term counterparty credit rating on U.K. mortgage lender Bradford&Bingley PLC (B&B) to 'A-1' from 'A-3'. The rating was also removed from CreditWatch, where it had been originally ...
