S&PCORRECT: Lloyds Banking Group And Royal Bank of Scotland Group Pass-Through Securities Lowered - S&P Global Ratings’ Credit Research

S&PCORRECT: Lloyds Banking Group And Royal Bank of Scotland Group Pass-Through Securities Lowered

S&PCORRECT: Lloyds Banking Group And Royal Bank of Scotland Group Pass-Through Securities Lowered - S&P Global Ratings’ Credit Research
S&PCORRECT: Lloyds Banking Group And Royal Bank of Scotland Group Pass-Through Securities Lowered
Published Jan 26, 2009
649 words — Published Jan 26, 2009
Price US$ 150.00  |  Buy this Report Now

About This Report

  
Abstract:

LONDON (Standard&Poor's) Jan. 26, 2009--Standard&Poor's Ratings Services today corrected errors relating to two pass-through securities linked to preference shares of Lloyds Banking Group PLC (LBG; A+/Negative/A-1) and The Royal Bank of Scotland Group PLC (RBSG; A/Stable/A-1), respectively. The issuers of the securities are Saphir Finance PLC in the case of the LBG-related issue, and Argon Capital PLC in the case of the RBSG-related issue. The ratings on the underlying LBG and RBSG preference shares were lowered on Jan. 14, 2009, and Jan. 19, 2009, respectively, in line with the ratings on their other junior subordinated issues. However, due to administrative errors, the ratings on the Saphir and Argon pass-through securities were not lowered on these dates.

  
Brief Excerpt:

RESEARCH S&PCORRECT: Lloyds Banking Group And Royal Bank of Scotland Group Pass-Through Securities Lowered Publication date: 26-Jan-2009 Primary Credit Analysts: Nigel Greenwood, London (44) 20-7176-7211; nigel_greenwood@standardandpoors.com...

  
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:
HTML HTML
Buy Now

More from S&P Global Ratings’ Credit Research

S&P Global Ratings’ Credit Research—S&P Global Ratings’ credit research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P Global Ratings also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.

About the Author


Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "S&PCORRECT: Lloyds Banking Group And Royal Bank of Scotland Group Pass-Through Securities Lowered" Jan 26, 2009. Alacra Store. May 17, 2025. <http://www.alacrastore.com/s-and-p-credit-research/S-PCORRECT-Lloyds-Banking-Group-And-Royal-Bank-of-Scotland-Group-Pass-Through-Securities-Lowered-698183>
  
APA:
S&P Global Ratings’ Credit Research. (). S&PCORRECT: Lloyds Banking Group And Royal Bank of Scotland Group Pass-Through Securities Lowered Jan 26, 2009. New York, NY: Alacra Store. Retrieved May 17, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/S-PCORRECT-Lloyds-Banking-Group-And-Royal-Bank-of-Scotland-Group-Pass-Through-Securities-Lowered-698183>
  
US$ 150.00
$  £  €
Have a Question?

Any questions about the report you're considering? Our Customer Service Team can help! Or visit our FAQs.

More Research

Search all our Residential Mortgage-Backed Securities from one place.