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S&P Credit Research978 word report
published Sep 29, 2008
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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
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...
Report Type: News
Ticker: BB/@LNIssuer: Bradford&Bingley PLCGICS: Thrifts & Mortgage Finance (40102010)Sector: Asset-Backed Commercial Paper, Asset-Backed Securities, Collateralized Debt Obligations, Commercial MBS, Corporations, Financial Institutions, Global Issuers, Public Finance, Residential MBS, Sovereigns, Structured Finance, UtilitiesCountry: United KingdomRegion: Europe, Middle East, AfricaFree Sample: Click
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S&P Credit ResearchS&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.
