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.

Scope Ratings has updated its rating report on Barclays plc’s AT1 securities. Ratings were also assigned to the 7.25% GBP 1.25bn perpetual subordinated contingent convertible securities issued in March 2017.

The rating actions include new ratings on AT1 securities and an upgrade of Barclays plc’s AT1 securities. In addition, this is the first time that Scope rates the AT1 securities of The Royal Bank of Scotland Group plc.

Scope Ratings has updated its analysis on Barclays plc’s AT1 securities and Barclays Bank’s Tier 2 securities.