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BULLETIN: Ratings And Outlooks Remain Unchanged On French Banks Engaged In Joint Venture Talks Mar 06
Standard & Poors, March 2006
Abstract
PARIS (Standard & Poor's) March 13, 2006--Standard & Poor's Ratings Services said today that the ratings and outlooks on Natexis Banques Populaires (NBP; AA-/Stable/A-1+), as well as on IXIS Corporate & Investment Bank (IXIS CIB; AAA/Negative/A-1+) and on Cr-dit Foncier de France (CFF; AA-/Positive/A-1+) remain unchanged following news that their respective parents, the Banques Populaires group and Groupe Caisse d'Epargne (GCE), have entered into exclusive talks until June 1, 2006, to bring together some of their businesses into a joint venture to be called Natixis. Standard & Poor's decision reflects the talks' preliminary nature. Any agreement will require approval by Caisse des D-p-ts et Consignations (CDC; AAA/Stable/A-1+), which has expressed opposition to the project. CDC is the strategic shareholder of...
Companies mentioned in this report are: Natixis S.A.,Credit Foncier de France,Caisse des Depots et Consignations,Caisses d'Epargne Participations,IXIS Corporate & Investment Bank
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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