Fitch rates Barclays notes A

Fitch Ratings said it assigned a final rating of A to Barclays plc’s issue of €1 billion 1.5% senior unsecured notes.

The notes are rated in line with Barclays’s A issuer default rating and A viability rating and constitute direct, unconditional, unsecured and unsubordinated obligations of the company, Fitch said.

As the securities are rated in line with Barclays’s issuer default rating, their rating is primarily sensitive to any change to that rating, which itself is currently in line with Barclays Bank plc’s issuer default rating, Fitch said.

The group is expected to start issuing an increasing portion of debt through its holding company, the agency said.

Together with the creation of separately capitalized subsidiaries, over time this could change the relative position of creditors of different group entities, which would be reflected in their ratings, Fitch added.

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