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Research Update: Credit Suisse 'AA-/A-1+' Ratings Placed On CreditWatch Negative On Weak Trading Performance Dec 08

  • ID: 1859941
  • December 2008
  • Region: Switzerland
  • Standard & Poors

FEATURED COMPANIES

  • Credit Suisse (USA) Inc.
  • Credit Suisse AG
  • Credit Suisse Group AG
  • MORE

Abstract
On Dec. 4, 2008, Standard & Poor's Ratings Services placed its 'AA-/A-1+' long- and short-term counterparty credit ratings on Swiss bank Credit Suisse on CreditWatch with negative implications. At the same time, the 'A+' long-term counterparty credit rating on Credit Suisse Group was placed on CreditWatch with negative implications. Additionally, the 'A-1' short-term counterparty credit rating on Credit Suisse Group was affirmed. Furthermore, the long- and short-term counterparty credit ratings on related entities were placed on CreditWatch with negative implications. The rating actions result from the group's announcement of a larger-than-expected net loss of Swiss franc (CHF) 3 billion in October and November 2008, driven primarily by extreme market volatility and further pressure on asset values, which had a material...

Companies mentioned in this report are:
- Credit Suisse AG
- Credit Suisse Group AG
- Credit Suisse Holdings (USA) Inc.
- Credit Suisse International
- Credit Suisse Holdings (Australia) Ltd.
- Credit Suisse (International) Holding AG
- Credit Suisse Group Finance (Guernsey) Ltd.
- Credit Suisse Group Capital (Guernsey) READ MORE >

Note: Product cover images may vary from those shown

- Credit Suisse AG
- Credit Suisse Group AG
- Credit Suisse Holdings (USA) Inc.
- Credit Suisse International
- Credit Suisse Holdings (Australia) Ltd.
- Credit Suisse (International) Holding AG
- Credit Suisse Group Finance (Guernsey) Ltd.
- Credit Suisse Group Capital (Guernsey) III Ltd.
- Credit Suisse Group Finance (U.S.) Inc.
- Credit Suisse (USA) Inc.

Note: Product cover images may vary from those shown
Note: Product cover images may vary from those shown

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