Fitch rates Barclays notes A-

Fitch Ratings said it assigned an expected A- rating to Barclays plc’s potential issue of dollar-denominated fixed-rate subordinated notes.

The notes are subordinated and will qualify as tier 2 regulatory capital. They are rated one notch below the company’s viability rating of A in line with the agency’s criteria for subordinated and hybrid bank securities, Fitch said.

The notching reflects loss severity in the case of a non-performance of the notes, which do not have any coupon deferral features, the agency said.

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