Prospective Barclays Ring-Fenced Entity Assigned Preliminary 'A/A-1' Ratings, Barclays Bank PLC Raised To 'A/A-1'

We are assigning our 'A/A-1' preliminary ratings to Barclays Bank UK PLC (BUK), the new U.K. ring-fenced bank of the Barclays group. In addition, we have finalized our view of the group status of Barclays Bank PLC (BB PLC), which will become the non-ring-fenced bank, and now consider it to be core to the group as opposed to our previous expectation of highly strategic. As a result, we are raising the issuer credit ratings on BB PLC to 'A/A-1' from 'A-/A-2' as we no longer make a negative adjustment to the ratings construct. Our view of the creditworthiness of the Barclays group, the ratings on its hybrids, and the ratings on BB PLC's hybrids, remain unchanged. We are also affirming

...+ We are assigning our 'A/A-1' preliminary ratings to Barclays Bank UK PLC (BUK), the new U.K. ring-fenced bank of the Barclays group. + In addition, we have finalized our view of the group status of Barclays Bank PLC (## PLC), which will become the non-ring-fenced bank, and now consider it to be core to the group as opposed to our previous expectation of highly strategic. + As a result, we are raising the issuer credit ratings on ## PLC to 'A/A-1' from 'A-/A-2' as we no longer make a negative adjustment to the ratings construct. + Our view of the creditworthiness of the Barclays group, the ratings on its hybrids, and the ratings on ## PLC's hybrids, remain unchanged. + We are also affirming the long- and short-term issuer credit ratings on Barclays PLC at '###/A-2'. + The negative outlook on all three legal entities is consistent with our negative outlook on the U.K. banking system. LONDON (S&P Global Ratings) Oct. 17, 2017--S&P Global Ratings today said it has assigned its preliminary...

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