Summary: Natixis S.A. Jan 08
Standard & Poors, January 2008
Abstract
The ratings on France-based Natixis S.A., a jointly controlled subsidiary of Groupe Caisse d'Epargne (GCE) and Groupe Banque Populaire (GBP), reflect the view of Standard & Poor's Ratings Services that the bank is a core entity to both groups. The central body of GCE, Caisse Nationale des Caisses d'Epargne et de Prévoyance (CNCE), is rated AA/Negative/A-1+, and that of GBP, Banque Fédérale des Banques Populaires (BFBP), is rated AA-/Stable/A-1+. The ratings also take into account the combined strong support of the two parent groups. Natixis is the wholesale banking and specialized financing arm of its two parents. The bank has solid strategic, operational, and financial links to GBP and GCE and benefits from the complementary nature of the businesses brought...
Companies mentioned in this report are:
- Natixis S.A.
- Banque Federale des Banques Populaires
- Caisses d'Epargne Participations
- IXIS Corporate & Investment Bank
- CIFG GUARANTY
- CIFG Europe
- CIFG Assurance North America Inc.
Action: Review
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.
This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.
- Natixis S.A.
- Banque Federale des Banques Populaires
- Caisses d'Epargne Participations
- IXIS Corporate & Investment Bank
- CIFG GUARANTY
- CIFG Europe
- CIFG Assurance North America Inc.
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