Crédit Agricole: S&P upgrades credit rating
(CercleFinance.com) - Crédit Agricole SA announced that on Friday evening S&P Global Ratings decided upgrade its long-term rating on the bank by one notch, to A+ (against A previously), with a "stable outlook," with the agency confirming its short-term rating at A-1.
S&P highlights a “solid financial performance, a low risk profile with strong diversification and granularity of risk exposures, as well as better-than-peers coverage of impaired assets.”
S&P highlights the solid financial performance demonstrated by the group, its low risk profile associated with a strong diversification of risk exposure, and a higher level of coverage of doubtful loans than its peers.
The rating agency also believes that "The rating agency considers that the refocused, balanced, and diversified businesses combined with disciplined underwriting standards and low risk appetite support overall structural, and not only cyclical, reduced credit losses."
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S&P highlights a “solid financial performance, a low risk profile with strong diversification and granularity of risk exposures, as well as better-than-peers coverage of impaired assets.”
S&P highlights the solid financial performance demonstrated by the group, its low risk profile associated with a strong diversification of risk exposure, and a higher level of coverage of doubtful loans than its peers.
The rating agency also believes that "The rating agency considers that the refocused, balanced, and diversified businesses combined with disciplined underwriting standards and low risk appetite support overall structural, and not only cyclical, reduced credit losses."
Copyright (c) 2018 CercleFinance.com. All rights reserved.