LONDON (Standard&Poor's CreditWire) Sept. 7, 2000--Following today's announcement that Abbey National PLC, one of the U.K.'s main banking groups, will, through its life insurance subsidiary Scottish Mutual Assurance PLC, acquire the long-term business of U.K. mutual life insurer Scottish Provident Institution (A+/Watch Dev/--), Standard&Poor's today affirmed all of its ratings on Abbey National and related entities, including its double-'A' long-term and 'A-1'-plus short-term counterparty credit ratings on Abbey National and double-'A' long-term counterparty credit and insurer financial strength ratings on Scottish Mutual. The outlooks on Abbey National, Scottish Mutual, and related entities remain stable. At the same time, the CreditWatch implications on the single-'A'-plus long-term counterparty credit and insurer financial strength ratings on Scottish Provident were
