15th Nov 2019 10:43
(Alliance News) - Barclays PLC's UK unit will not be given a ratings change after making amendments to its mortgage covered bonds programme, Moody's Investors Service said on Friday.
Moody's said: "Mortgage Covered Bonds programme will not, in and of itself and as of this time, result in the downgrade or withdrawal of the ratings currently assigned to the covered bonds issued by Barclays Bank UK PLC under the programme."
Moody's on Wednesday took rating actions on 15 UK banks and building societies, cutting the outlook on some to negative. This was after the ratings agency last Friday changed the outlook on the UK's sovereign debt rating to negative from stable.
Barclays Bank UK's long-term deposit outlook was changed to negative from stable, but Moody's affirmed the A3 baseline credit assessment.
Shares in Barclays were 0.8% lower at 168.68 pence each in London on Friday morning.
By Eric Cunha; [email protected]
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