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Research Update: Banque Tarneaud, Banque Kolb, And Banque Rhône-Alpes Upgraded To 'A+' On Our View Of Their Core Status To Crédit Du Nord Mar 10 Product Image

Research Update: Banque Tarneaud, Banque Kolb, And Banque Rhône-Alpes Upgraded To 'A+' On Our View Of Their Core Status To Crédit Du Nord Mar 10

  • Published: March 2010
  • Standard & Poors

FEATURED COMPANIES

  • Banque Kolb S.A.
  • Banque Rhone Alpes S.A.
  • Banque Tarneaud S.A.
  • Credit du Nord S.A.
  • Societe Generale
  • MORE

Abstract
We now consider that French banks Banque Tarneaud, Banque Kolb, and Banque Rhône-Alpes are core entities of their direct parent, Crédit du Nord, which is in our view core to Société Générale. We are upgrading the long-term ratings on the banks to 'A+' from 'A' to equalize them with the long-term ratings on the parent. The stable outlooks on the three banks mirror those on CDN and SocGen. On March 17, 2010, Standard & Poor's Ratings Services raised its long-term counterparty credit ratings on Banque Tarneaud S.A., Banque Kolb S.A., and Banque Rhône-Alpes S.A. to 'A+' from 'A'. At the same time, we affirmed the short-term ratings at 'A-1'. The outlook on all of the banks is stable. We now...

Companies mentioned in this report are:
- Banque Tarneaud S.A.
- Societe Generale
- Credit du Nord S.A.
- Banque Kolb S.A.
- Banque Rhone Alpes S.A.

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 READ MORE >

- Banque Tarneaud S.A.
- Societe Generale
- Credit du Nord S.A.
- Banque Kolb S.A.
- Banque Rhone Alpes S.A.

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