Crédit Agricole: Moody's upgrades debt rating
(CercleFinance.com) - Credit rating agency Moody's yesterday upgraded its long-term debt rating on Credit Agricole SA's debt one notch, from 'A1' to 'Aa3'.
In addition, the agency has improved its outlook associated with this rating, a potential forerunner regarding its future trend, from "stable" to "positive".
Today's rating decision reflects the continued improvement in capitalisation and risks associated with Crédit Agricole Group (GCA) assets, as well as the stability of profits resulting from a sound level of diversification, Moody's said.
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In addition, the agency has improved its outlook associated with this rating, a potential forerunner regarding its future trend, from "stable" to "positive".
Today's rating decision reflects the continued improvement in capitalisation and risks associated with Crédit Agricole Group (GCA) assets, as well as the stability of profits resulting from a sound level of diversification, Moody's said.
Copyright (c) 2019 CercleFinance.com. All rights reserved.