Alliance & Leicester Group Treasury Rtd A-1 by S&P

Business Wire, Sept 11, 1997

LONDON--(BUSINESS WIRE)--Sept. 11, 1997--Standard & Poor's today assigned its 'A-1' short-term counterparty rating to Alliance & Leicester Group Treasury PLC (ALGT). ALGT is a guaranteed subsidiary of 'A-1' rated Alliance & Leicester PLC.

Alliance & Leicester PLC's, formerly Alliance & Leicester Building Society, 'A-1' rating reflects the bank's good asset quality, increasingly diversified earnings streams and sound capitalization.

With total assets of UK24.1 billion (US$41.2 billion) at year-end 1996, Alliance & Leicester PLC is the U.K.'s 7th largest residential mortgage lender, operating out of approximately 320 branches. Funding benefits from a large and stable retail deposit base. Formerly a building society, Alliance & Leicester PLC converted to public limited company status on April 21, 1997 and received a banking license from the Bank of England, its new regulator. ALGT is also licensed and regulated by the Bank of England, Standard & Poor's said. -- CreditWire

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