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Société Générale And Core Subsidiaries Long-Term Ratings Raised To 'AA'; Outlook Stable Nov 06
Standard & Poors, November 2006
PARIS (Standard & Poor's) Nov. 15, 2006--Standard & Poor's Ratings Services said today that it raised its long-term counterparty credit rating on French bank Société Générale (SocGen) to 'AA' from 'AA-'. At the same time, the short-term 'A-1+' counterparty credit rating on SocGen was affirmed. The outlook is stable. In addition, Standard & Poor's raised its long-term counterparty credit ratings on SocGen's core operating subsidiaries Crédit du Nord S.A., Franfinance, and Société Générale Bank & Trust to 'AA' from 'AA-' and affirmed its short-term 'A-1+' counterparty credit ratings on the subsidiaries. The outlook on the core operating subsidiaries is stable. "The rating actions reflect a major improvement in Socgen's business profile and risk management, as well as the level and...
Companies mentioned in this report are:
- Societe Generale
Action: Outlook: Stable
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
- Societe Generale