S&P assigns A to Credit Suisse unit

S&P said it assigned its A long-term and A-1 short-term issuer credit ratings to Credit Suisse Securities Sociedad de Valores SA.

The outlook is positive.

The agency also assigned A+ long-term and A-1 short-term resolution counterparty ratings.

“As part of its Brexit-related contingency plan, Credit Suisse has designated its wholly owned and fully licensed, Spain-based, nonbanking investment firm, Credit Suisse Securities Sociedad de Valores SA (CSSSV), with the critical role of ensuring the group can provide banking business and other financial services across the European Economic Area if and when the U.K. leaves the E.U.,” S&P said in a news release.

“We believe the group would support CSSSV under all foreseeable circumstances if needed.”

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