Research Update: French Bank BPCE And Core Subsidiaries Lowered To 'A' After Sovereign Downgrade; Outlook Stable Jan 12
- Language: English
- Published: January 2012
- Region: France
Standard & Poor's raised its long-term counterparty credit rating on Natexis Banques Populaires (NBP) on April 9, 2002. The upgrade reflected the sustainability of the improvements in the Banques Populaires group's financial profile, and the successful integration of NBP within the group. The group's financial profile now compares well with those of other leading French banks. The group's profitability has gradually progressed over the years, including at NBP since it was acquired in 1998. The less favorable year-on-year comparison in 2001, which reflected the changing environment--with the impact of weaker equity markets and several well-publicized credit losses--did not reverse the improvement in the group's performance relative to peers'. The group has also reduced the level of credit risk in its...
Companies mentioned in this report are:
- Natixis S.A.
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- Natixis S.A.