Research Update: Credit du Nord L-T Rating Raised To 'AA'; Subsidiaries Raised To 'AA-/A-1+'; Outlook Stable Nov 06
Standard & Poors, November 2006
Abstract
On Nov. 15, 2006, Standard & Poor's Ratings Services raised its long-term counterparty credit rating on French bank Crédit du Nord S.A. (CDN) to 'AA' from 'AA-', following an upgrade of its parent Société Générale (SocGen; AA/Stable/A-1+), reflecting CDN's core status within the domestic retail-banking activities of SocGen. At the same time, the short-term 'A-1+' counterparty credit rating on CDN was affirmed. The outlook is stable. In addition, Standard & Poor's raised its long- and short-term counterparty credit ratings on three of CDN's subsidiaries-- Banque Rhône Alpes S.A., Banque Tarneaud S.A., and Banque Kolb S.A.--to 'AA-/A-1+' from 'A+/A-1'. The outlook on these subsidiaries is stable. The upgrade of SocGen to 'AA' from 'AA-' reflects a major improvement in SocGen's business...
Companies mentioned in this report are:
- Credit du Nord S.A.
- Societe Generale
- Banque Kolb S.A.
- Banque Tarneaud S.A.
- Banque Rhone Alpes S.A.
Action: Affirmed
Action: Outlook: Stable
Action: Upgraded
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.
Product Type: Research Update
Research updates complement media releases. They offer more depth and detail than summary analyses by incorporating all information published in the media release. They are more up to date than summaries in that they are published simultaneously with media releases.
- Credit du Nord S.A.
- Societe Generale
- Banque Kolb S.A.
- Banque Tarneaud S.A.
- Banque Rhone Alpes S.A.
Customers who bought this item also bought
All rights reserved. © Copyright 2013 Research and Markets WWW4
Terms and Conditions Privacy Policy Publishers Employment Opportunities Site Map Link to us Webmaster Affiliate Network
