CREDIT AGRICOLE SA: Moody’s upgrades the long term credit ratings of Crédit Agricole Regional banks, Crédit Agricole S.A....
19 September 2019 - 07:50PM
CREDIT AGRICOLE SA: Moody’s upgrades the long term credit ratings
of Crédit Agricole Regional banks, Crédit Agricole S.A. and Crédit
Agricole CIB
Montrouge,19 September 2019 |
Moody’s upgrades the long term credit
ratings of Crédit Agricole Regional banks, Crédit
Agricole S.A. and Crédit Agricole CIB
On 19 September 2019, the rating agency Moody’s
announced the one-notch upgrade from A1 to Aa3 of the long term
credit rating of Credit Agricole Group’s following entities: Crédit
Agricole Regional banks, Crédit Agricole S.A. and Crédit Agricole
CIB.
Credit ratings of long-term debt instruments
issued by these entities are also impacted by a one-notch upgrade.
The outlook changes from positive to stable and the short-term
rating remains unchanged at P-1.
Moody’s justifies the upgrade by the constant
improvement of the capitalisation level of the Group, of its asset
quality and of the diversification of revenue sources, which
enables Crédit Agricole Group to maintain its profitability in a
low interest rate environment. This is an acknowledgment of the
strength of the Group’s universal customer-focused retail model and
its capacity to reach its strategic targets.
The upgrade changes the rating of senior
preferred debt instruments issued by Crédit Agricole SA to Aa3, the
one of senior non-preferred and Tier 2 notes to Baa1, and the one
of Additional Tier 1 debt instruments to Baa3. The latter are now
rated “investment grade”.
For details about the rationale underlying this
rating action, please refer to the press release issued by Moody’s
on Thursday 19 September 2019, “Rating Action : Moody’s
upgrades Credit agricole S.A’s long term deposit and senior
unsecured debt rating to Aa3 from A1, outlook changed to
stable”.
As a reminder, the long-term rating of Regional
banks, Crédit Agricole S.A. and Crédit Agricole CIB is A+ with
S&P and Fitch Ratings since October 2018 and May 2017
respectively.
Financial agenda
- 8 November 2019 Publication of third quarter 2019
results
Contacts
CRÉDIT AGRICOLE PRESS
CONTACTS
Charlotte de
Chavagnac + 33 1 57
72 11
17
charlotte.dechavagnac@credit-agricole-sa.frOlivier
Tassain
+ 33 1 43 23 25
41
olivier.tassain@credit-agricole-sa.frCaroline de
Cassagne
+ 33 1 49 53 39
72
caroline.decassagne@ca-fnca.fr
CRÉDIT AGRICOLE S.A.
INVESTOR RELATIONS CONTACTS
Institutional
investors
+ 33 1 43 23 04
31
investor.relations@credit-agricole-sa.frIndividual
shareholders
+ 33 800
000 777
credit-agricole-sa@relations-actionnaires.com
(toll-free number France only) Clotilde
L’Angevin
+ 33 1 43 23 32
45
clotilde.langevin@credit-agricole-sa.fr
Credit investors & analysts:Caroline
Crepin
+ 33 1 43 23 83
65
caroline.crepin@credit-agricole-sa.frMarie-Laure
Malo
+ 33 1 43 23 10
21
marielaure.malo@credit-agricole-sa.frRhita Alami
Hassani
+ 33 1 43 23 15
27
rhita.alamihassani@credit-agricole-sa.fr
Equity investors & analysts:Letteria
Barbaro-Bour
+ 33 1 43 23 48
33
letteria.barbaro-bour@credit-agricole-sa.frOriane
Cante
+ 33 1 43 23 03
07
oriane.cante@credit-agricole-sa.frEmilie
Gasnier
+ 33 1 43 23 15
67
emilie.gasnier@credit-agricole-sa.frAnnabelle
Wiriath
+ 33 1 43 23 55
52
annabelle.wiriath@credit-agricole-sa.frVincent
Liscia
+ 33 1 57 72 38
48
vincent.liscia@credit-agricole-sa.fr
See all our press releases at: www.credit-agricole.com -
www.creditagricole.info
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- 2019 09 19 Moody’s upgrades the long term credit ratings Crédit
Agricole SA
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