Société Générale: S&P upgrades outlook to 'positive'
(CercleFinance.com) - S&P Global Ratings has confirmed its long- and short-term credit issuer ratings of "A" and "A-1" respectively on Société Générale and its core banking entities, while upgrading its outlook from "stable" to "positive".
"The positive outlook reflects our expectations that SG's loss-absorbing buffer will reach 8% of risk-weighted assets (RWAs) by mid-2020 and that the group will enhance profitability in line with 'A+' rated peers," explains the rating agency.
S&P also says that it is upgrading its long-term credit issuer rating on the ALD car rental company from "BBB" to "BBB+," while confirming its ratings on the insurance company Sogecap, while maintaining a "stable" outlook.
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"The positive outlook reflects our expectations that SG's loss-absorbing buffer will reach 8% of risk-weighted assets (RWAs) by mid-2020 and that the group will enhance profitability in line with 'A+' rated peers," explains the rating agency.
S&P also says that it is upgrading its long-term credit issuer rating on the ALD car rental company from "BBB" to "BBB+," while confirming its ratings on the insurance company Sogecap, while maintaining a "stable" outlook.
Copyright (c) 2018 CercleFinance.com. All rights reserved.