LONDON (Standard&Poor's) Sept. 28, 2007--Standard&Poor's Ratings Services said today that it assigned its 'AA-/A-1+' long- and short-term counterparty credit ratings to Barclays PLC, the nonoperational holding company of Barclays Bank PLC (AA/Stable/A-1+). The outlook is stable. "The one-notch differential between the long-term ratings on the holding company and the bank is in line with Standard&Poor's criteria, and reflects the potential structural subordination of holding company creditors to those of regulated subsidiaries," said Standard&Poor's credit analyst Nick Hill. "The stable outlook on Barclays PLC reflects that on Barclays Bank PLC. This in turn reflects Standard&Poor's expectation of continued strong profitable growth and stable capitalization," added Mr. Hill. A negative rating action
