PARIS (Standard&Poor's) Jan. 27, 2006--Standard&Poor's Ratings Services said today that it raised its long- and short-term counterparty credit ratings on Switzerland-based Banque Cantonale Vaudoise (BCV) to 'A/A-1' from 'A-/A-2'. The outlook is stable. "The upgrade reflects the improvement of the bank's financial profile, concomitant with the streamlining of its business profile," said Standard&Poor's credit analyst Aurélie Thiellet. The ratings now mirror BCV's stand-alone creditworthiness, and factor in Standard&Poor's opinion that the enhancement in the bank's profitability will prove to be sustainable, thanks to a well-implemented strategy. BCV is the second-largest cantonal bank in Switzerland. As is typical for cantonal banks, BCV has a public mission role in the economic development of its
