Credit Agricole: Moody's upgrades long-term ratings

(CercleFinance.com) - On Tuesday evening Moody's announced that it has upgraded its long-term credit ratings for Credit Agricole S.
A. by one notch to "A3" (from "Baa1" previously).

This upgrade concerns the senior and junior unsecured debt issued by the bank, as well as the unsecured junior and senior MTN instruments.

In a statement, Moody's justifies its upgrade by the introduction of a new bank rating methodology called "Loss Given Failure" (LGF).

The market likes this - the Crédit Agricole share was up 1.8% on Wednesday morning on the Paris stock exchange, the second biggest winner in the CAC 40 index.



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