Research Update: Barclays PLC Upgraded To 'BBB+' On Business Diversification And Resilient Performance; Outlook Stable

Barclays PLC's diversified international banking franchise has performed well against a difficult economic and financial backdrop. We expect Barclays to generate solid earnings over the next 12-24 months, even as interest rates approach their peak. Barclays' funding and liquidity are on a solid footing, with a material liquidity surplus and a granular and well-diversified funding base supporting ratings stability. We raised our long-term issuer credit rating on Barclays to 'BBB+' from 'BBB' and affirmed our 'A-2' short-term issuer credit rating. We took corresponding rating actions on all other issuer credit and issue ratings on group entities and their debt. The stable outlook indicates that we expect Barclays to maintain its resilient earnings and diversified international banking franchise, bolstered by a

...- Barclays PLC's diversified international banking franchise has performed well against a difficult economic and financial backdrop. - We expect Barclays to generate solid earnings over the next 12-24 months, even as interest rates approach their peak. - Barclays' funding and liquidity are on a solid footing, with a material liquidity surplus and a granular and well-diversified funding base supporting ratings stability. - We raised our long-term issuer credit rating on Barclays to '###+' from '###' and affirmed our 'A-2' short-term issuer credit rating. We took corresponding rating actions on all other issuer credit and issue ratings on group entities and their debt. - The stable outlook indicates that we expect Barclays to maintain its resilient earnings and diversified international banking franchise, bolstered by a prudent funding and liquidity profile....

Research Update