Credit du Nord - Credit Update - 2009/10/08 - Fitch Research

Report title: Credit du Nord

from Fitch Research
5 page (3121 word) report published Oct 08, 2009

Price $165.00 available for immediate download

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...CrTdit du Nord's (CN) IDRs are driven by the potential support available from its shareholder, SociTtT GTnTrale (SG; `A+'/Stable/`F1+'). SG currently owns 80% of CN and it has announced that it plans to acquire the 20% stake outstanding from Dexia (`A+'/Stable). CN's IDRs have been placed on Rating Watch Positive (RWP), pending completion of this transaction, which is scheduled for end2009. CN's Individual Rating reflects recurring profitability, a good retail deposit base, and adequate asset quality and capital....

Report Type:

Credit Update

Company(ies):

Credit du Nord S.A.

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