Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers B > Headlines for BRD-Groupe Societe Generale SA > News item |
Moody’s upgrades BRD deposits, view positive
Moody's Investors Service said it upgraded BRD - Groupe Societe Generale SA's long-term and short-term local- and foreign-currency deposit ratings to Baa3/Prime-3 from Ba1/Not Prime and changed the outlook to positive from stable on the long-term deposit ratings.
Concurrently, the agency upgraded the bank's baseline credit assessment (BCA) to b1 from b2, adjusted BCA to ba2 from ba3 and long-term and short-term counterparty risk assessment to Baa2(cr)/Prime-2(cr) from Baa3(cr)/Prime-3(cr).
Moody's said the upgrade was driven by: (a) The upgrade of the bank's BCA to b1 from b2 with ongoing upward pressure; (b) the agency's unchanged high affiliate support assumption from its parent, France's Societe Generale (A2 stable/A2 stable; baa2), resulting in a two-notch rating uplift and a higher adjusted BCA of ba2 from ba3 previously; and (c) maintaining two notches of rating uplift from Moody's advanced LGF analysis.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.