Switzerland-based Banque Cantonale Vaudoise has improved core earnings while reducing materially its market risk profile. We are revising the outlook to positive from stable and affirming our 'AA-/A-1+' ratings on BCV. The positive outlook reflects our opinion that the improvement in the bank's underlying financial profile may be sustainable. PARIS (Standard&Poor's) Dec. 6, 2010--Standard&Poor's Ratings Services said today it has revised its outlook on Switzerland-based Banque Cantonale Vaudoise (BCV) to positive from stable. At the same time, we have affirmed the 'AA-/A-1+' long- and short-term counterparty credit ratings on this entity. "Our long-term rating on BCV factors in two notches of support above the bank's current stand-alone credit profile," said Standard&Poor's credit analyst Thierry
