LONDON (S&P Global Ratings) April 9, 2020--S&P Global Ratings said today that the partial dividend deferrals and first-quarter earnings guidance announced by Credit Suisse Group AG (BBB+/Stable/--) and UBS Group AG (A-/Stable/A-2) do not materially affect our assessment of the banks' credit profiles. Having already paused share repurchases last month, Credit Suisse and UBS disclosed today that they will defer one-half of their proposed dividend payments until the second half of the year at the request of FINMA, the Swiss regulator. The banks also signaled strong performances in the first quarter of 2020. Credit Suisse and UBS follow many other European banks in adjusting planned dividends and buybacks following regulatory requests for prudence during the COVID-19 pandemic. We believe the
