S&P Corrects Rating On Argon Capital Issue Secured Over Royal Bank of Scotland Group Preference Shares To 'CC' - S&P Global Ratings’ Credit Research

S&P Corrects Rating On Argon Capital Issue Secured Over Royal Bank of Scotland Group Preference Shares To 'CC'

S&P Corrects Rating On Argon Capital Issue Secured Over Royal Bank of Scotland Group Preference Shares To 'CC' - S&P Global Ratings’ Credit Research
S&P Corrects Rating On Argon Capital Issue Secured Over Royal Bank of Scotland Group Preference Shares To 'CC'
Published Dec 01, 2009
Published Dec 01, 2009
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About This Report

  
Abstract:

LONDON (Standard&Poor's) Dec. 1, 2009--Standard&Poor's Ratings Services today corrected an error relating to a £750 million 8.162% perpetual noncumulative securities issue by Argon Capital PLC (Argon; not rated). This issue is secured over a £750 million 8.162% noncumulative preference share issue by The Royal Bank of Scotland Group PLC (RBSG; A/Stable/A-1). The rating on the underlying RBSG preference shares was lowered to 'CC' from 'CCC+' on Nov. 3, 2009, following RBSG's announcement earlier that day regarding the European Commission's state aid ruling. Due to an administrative error, the rating on the Argon perpetual securities issue was not similarly lowered. We have now rectified this error by lowering the rating on the Argon perpetual securities issue to

  
Report Type:

Ratings Action

Ticker
RBS@LN
Issuer
NatWest Group PLC
GICS
Diversified Banks (40101010)
Sector
Global Issuers, Public Finance, Structured Finance
Country
United Kingdom
Region
United States
Format:
PDF Adobe Acrobat
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MLA:
S&P Global Ratings’ Credit Research. "S&P Corrects Rating On Argon Capital Issue Secured Over Royal Bank of Scotland Group Preference Shares To 'CC'" Dec 01, 2009. Alacra Store. May 17, 2025. <http://www.alacrastore.com/s-and-p-credit-research/S-P-Corrects-Rating-On-Argon-Capital-Issue-Secured-Over-Royal-Bank-of-Scotland-Group-Preference-Shares-To-CC-760188>
  
APA:
S&P Global Ratings’ Credit Research. (). S&P Corrects Rating On Argon Capital Issue Secured Over Royal Bank of Scotland Group Preference Shares To 'CC' Dec 01, 2009. New York, NY: Alacra Store. Retrieved May 17, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/S-P-Corrects-Rating-On-Argon-Capital-Issue-Secured-Over-Royal-Bank-of-Scotland-Group-Preference-Shares-To-CC-760188>
  
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