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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Barclays Plc    BARC   GB0031348658

BARCLAYS PLC

(BARC)
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Barclays to cut Russian corporate debt from Global Aggregate index

02/26/2015 | 04:35pm EST

NEW YORK (Reuters) - Barclays Capital said on Thursday it will cut 36 Russian foreign currency denominated debt issues from its investment grade Global Aggregate index following Moody's Investors Service's decision to downgrade the sovereign to junk status last week.

The removal of the debt from six issuers will be done at the end of February during the month-end rebalancing, Barclays said in a research note. The firm said this removal represents $35.8 billion (23.2 billion pounds)in debt outstanding. The market value is estimated at $32.68 billion, the firm said.

Affected debt issues in U.S. dollars, euros, British pounds and Swiss francs will no longer contribute to the index returns as of March 1, 2015. The firms are Gaz Capital SA, OJSC Novolipetsk Steel, Novatek Finance Ltd, Russian Railways, Gazprom Neft, and Uralkali OJSC.

Moody's became the second agency to downgrade Russia to junk status, cutting on Feb. 20 the sovereign rating to Ba1 from Baa3.

The move adds to a list of financial headaches for Russia, already hit by currency weakness and a looming recession as it absorbs the double blow of Western sanctions over Ukraine and a halving of world oil prices since last June.

(Reporting By Daniel Bases; Editing by Diane Craft)

By Daniel Bases


© Reuters 2015
Stocks mentioned in the article
ChangeLast1st jan.
BARCLAYS PLC -2.95% 146.86 Delayed Quote.3.16%
GAZPROM NEFT -0.45% 339.8 End-of-day quote.7.21%
NOVOLIPETSK STEEL -0.23% 218.9 End-of-day quote.4.71%
URALKALI 0.00% 119.04 End-of-day quote.0.00%
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Financials
Sales 2020 21 595 M 29 402 M 29 402 M
Net income 2020 1 152 M 1 569 M 1 569 M
Net Debt 2020 - - -
P/E ratio 2020 22,5x
Yield 2020 1,69%
Capitalization 26 266 M 35 656 M 35 762 M
Capi. / Sales 2020 1,22x
Capi. / Sales 2021 1,27x
Nbr of Employees 80 800
Free-Float 99,6%
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Barclays Plc Technical Analysis Chart | BARC | GB0031348658 | MarketScreener
Technical analysis trends BARCLAYS PLC
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TrendsBullishBullishNeutral
Income Statement Evolution
Consensus
Sell
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Mean consensus OUTPERFORM
Number of Analysts 24
Average target price 162,59 GBX
Last Close Price 151,32 GBX
Spread / Highest target 55,3%
Spread / Average Target 7,45%
Spread / Lowest Target -51,7%
EPS Revisions
Managers and Directors
NameTitle
James Edward Staley Group Chief Executive Officer & Director
Nigel Paul Higgins Group Chairman
Mark Ashton Rigby Group Chief Operating Officer
Tushar Morzaria Group Finance Director & Executive Director
Timothy James Breedon Independent Non-Executive Director
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