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Ratings On French Social Security Debt Amortization Fund CADES Affirmed, Then Withdrawn For Business Reasons Feb 13 Product Image

Ratings On French Social Security Debt Amortization Fund CADES Affirmed, Then Withdrawn For Business Reasons Feb 13

  • Published: February 2013
  • Region: France
  • Standard & Poors

Abstract
PARIS (Standard & Poor's) Feb. 18, 2013--Standard & Poor's Ratings Services said today that it had affirmed its 'AA+/A-1+' long- and short-term issuer credit ratings on France's Caisse d'Amortissement de la Dette Sociale (CADES). At the same time, we affirmed the 'AA+' and 'A-1+' issue ratings on CADES' debt. We subsequently withdrew all these ratings. At the time of the withdrawal, the outlook on the long-term issuer credit rating was negative. We withdrew the ratings because the rating engagement was not renewed, and Standard & Poor's chose not to continue ratings surveillance on an unsolicited basis. At the time of the withdrawal, we equalized the ratings on CADES--a fund dedicated to the amortization of France's social security debt--with the sovereign...

Companies mentioned in this report are:
- Caisse d'Amortissement de la Dette Sociale

Action: Affirmed
Action: Outlook: Negative
Action: Withdrawn

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 READ MORE >

- Caisse d'Amortissement de la Dette Sociale

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