Moody's reviews Barclays

Moody's Investors Service said it placed on review for downgrade Barclays Bank's senior debt ratings of Aa1. The Prime 1 short-term ratings were affirmed.

According to the agency, Barclays' £1 billion deal for some of Lehman Brothers Holdings Inc.'s assets will allow it to leapfrog in the global capital markets without a costly acquisition premium.

"However, it will increase the proportion of the group's revenues from more volatile investment banking activities at a time when the outlook for these revenues is still very uncertain, and the acquisition will still involve significant integration challenges," Elisabeth Rudman, a Moody's vice president, said in a written statement.

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