S&P affirms Barclays Bank

Standard & Poor’s said it affirmed its A-/A-2 long- and short-term counterparty credit ratings on Barclays Bank plc and its core subsidiaries.

The outlook is stable.

At the same time, S&P affirmed the BBB/A-2 long- and short-term counterparty credit ratings on nonoperating holding company Barclays plc. In addition, S&P affirmed the ratings on all other subordinated and hybrid capital instruments issued by Barclays plc, Barclays Bank and related entities.

S&P said the affirmation reflects the agency’s view that the strategic announcements relating to the gradual reduction in the group's stake in Barclays Africa Group Ltd. and the accelerated run down of the noncore division are broadly neutral to S&P’s assessment of Barclays’ bbb+ unsupported group credit profile at this time.

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