LONDON (Standard&Poor's) Sept. 24, 2004--Standard&Poor's Ratings Services said today that the ratings on Barclays Bank PLC (Barclays: AA/Stable/A-1+) are unlikely to be affected by the Sept. 23 announcement that it is in early discussions regarding a possible offer to acquire a majority stake in South African ABSA Group (ABSA; not rated), owner of ABSA Bank Ltd. (BBBpi/--/--). The acquisition of a majority stake in ABSA would add to Barclays' existing African operations, and give it a strong position in the South African market. Nevertheless, it would be a significant acquisition, even for such a large and diversified group as Barclays, representing a sizable proportion of Barclays' financial resources. At this early stage, there is naturally some
