Bulletin: Ratings On Barclays Bank PLC Unaffected By Serious Fraud Office Charge

LONDON (S&P Global Ratings) Feb. 12, 2018--S&P Global Ratings said today that its ratings on Barclays Bank PLC (A/Stable/A-1) are unaffected by today's announcement by the U.K.'s Serious Fraud Office (SFO) that the bank has been charged with unlawful financial assistance contrary to the Companies Act 1985. This relates to financial assistance that Barclays gave to Qatar Holding LLC in 2008 and follows charges brought by the SFO against non-operating holding company Barclays PLC and former Barclays executives in June 2017. We assume that this latest development will have no business or regulatory effect on Barclays. However, we have already factored the SFO charge, among other litigation cases, as partial constraints on our overall ratings assessment, and this remains the

...LONDON (S&P Global Ratings) Feb. 12, 2018--S&P Global Ratings said today that its ratings on Barclays Bank PLC (A/Stable/A-1) are unaffected by today's announcement by the U.K.'s Serious Fraud Office (SFO) that the bank has been charged with unlawful financial assistance contrary to the Companies Act 1985. This relates to financial assistance that Barclays gave to Qatar Holding LLC in 2008 and follows charges brought by the SFO against non-operating holding company Barclays PLC and former Barclays executives in June 2017. We assume that this latest development will have no business or regulatory effect on Barclays. However, we have already factored the SFO charge, among other litigation cases, as partial constraints on our overall ratings assessment, and this remains the case. Only a rating committee may determine a rating action and this report does not constitute a rating action....

Bulletin