In the context of Scope Ratings’ strategy of focussing on the needs of institutional investors, Scope will offer its unsolicited bank and covered bond credit ratings on a subscription basis only via its credit intelligence platform.

Following changes in the group’s legal structure to implement UK ring-fencing requirements, Scope has affirmed the A+ Issuer Rating of Barclays Bank PLC and has assigned first-time A+ Issuer Ratings to Barclays PLC and to Barclays Bank UK PLC.

Rating upgrade reflects Scope’s view of these banks’ reassuring liquidity dynamics, positively impacted by European supervisors’ enhanced focus on bank liquidity and funding.

Ratings apply to existing commercial paper and certificate of deposit programmes; these banks already carry short-term ratings from Scope. Aggregate amount of rated programmes is equivalent to over EUR 820bn.