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Bulletin: French Bank Credit Agricole Ratings Unaffected By News Of Continuing Cut In Funding Needs And Related Strategic Change Dec 11
Standard & Poors, Dec 2011
Abstract
PARIS (Standard & Poor's) Dec. 15, 2011-- Standard & Poor's Ratings Services said today that its ratings on French bank Cr-dit Agricole S.A. (CASA, A+/WatchNeg/A-1) remain unaffected by yesterday's announcement that it will continue to cut funding needs and adapt its capital planning and business model strategy, especially in its corporate and investment banking division. The latest announcement is an elaboration of a plan to tackle the deteriorated economic situation that CASA made public in September 2011, and remains consistent with the expectations we already factored into our ratings on CASA. It does not change our view of the Cr-dit Agricole group's capital position, mainly because the announced financial adjustments mostly consist of write-downs on goodwill and stakes in equity-accounted...
Companies mentioned in this report are: Credit Agricole S.A.
Action: Bulletin
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.
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