Research Update: French Bank Natexis Banques Populaires 'AA-' Rating Remains On CreditWatch Positive Sep 06
- ID: 2045285
- September 2006
- Region: France
- Standard & Poors
On Sept. 14, 2006, Standard & Poor's Ratings Services said that its 'AA-' long-term counterparty credit ratings on France-based Natexis Banques Populaires (NBP) and on the bank's related entities including core operating subsidiaries of French credit insurance group Coface remain on CreditWatch with positive implications, where the ratings were initially placed in May 2006. The CreditWatch placement continues to reflect our opinion that the NatIxis joint venture is a positive strategic move for NBP's parent, Groupe Banque Populaire (GBP), and for Groupe Caisse d'Epargne (GCE). In June 2006, the two groups agreed to pool together their main wholesale banking and financial services activities--which are essentially carried out by NBP for GBP and by IXIS Corporate & Investment Bank for GCE--into...
Companies mentioned in this report are:
- Natixis S.A.
- Coface S.A.
- Coface Kreditversicherung AG
- Coface Austria Kreditversicherung AG
- Coface Assicurazioni SpA
- Coface Finanz GmbH
- Coface North America Insurance Co.
Action: CreditWatch Update
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.
Product Type: Research Update
Research updates complement media releases. They offer more depth and detail than summary analyses by incorporating all information published in the media release. They are more up to date than summaries in that they are published simultaneously with media releases. SHOW LESS READ MORE >