...LONDON (Standard & Poor's) Aug. 4, 2015---Standard & Poor's Ratings Services said today that it had assigned its 'B+' long-term issue rating to the proposed fixed-rate resetting perpetual subordinated contingent convertible additional Tier 1 securities to be issued by Barclays PLC (Barclays). The rating is subject to our review of the notes' final documentation. In accordance with our January 2015 criteria for rating hybrid capital instruments, the 'B+' issue rating reflects our analysis of the proposed instruments and our assessment of the unsupported group credit profile (GCP; the group's intrinsic creditworthiness) of Barclays group. The issue rating stands six notches below the '###+' unsupported GCP of Barclays and reflects the following: + One notch for subordination. + Two notches for non-payment risk and its regulatory Tier 1 status. + One notch under step 1c of the criteria, reflecting the proposed issue's mandatory contingent capital clause leading to common equity conversion...
