Bulletin: Dexia Group Members Not Affected By The Outlook Revision On France

PARIS (S&P Global Ratings) Dec. 7, 2022--S&P Global Ratings said today that the creditworthiness of Dexia's rated group entities is not affected by the recent rating action on France (see "France Outlook Revised To Negative On Rising Budgetary Risks; 'AA/A-1+' Ratings Affirmed," published Dec. 2, 2022, on RatingsDirect). Although we consider Dexia Credit Local (DCL; BBB/Stable/A-2) a government-related entity, a downgrade of France would not in itself prompt us to lower the issuer credit ratings on DCL (see "Ratings On 12 French Banks Affirmed Under Revised Criteria For Financial Institutions," published Feb. 2, 2022). However, it would affect the issue ratings assigned to DCL's debt that is guaranteed by the state. France Outlook Revised To Negative On Rising Budgetary Risks;

...December 7, 2022 PARIS (S&P Global Ratings) Dec. 7, 2022--S&P Global Ratings said today that the creditworthiness of Dexia's rated group entities is not affected by the recent rating action on France (see "France Outlook Revised To Negative On Rising Budgetary Risks; '##/A-1+' Ratings Affirmed," published Dec. 2, 2022, on RatingsDirect). Although we consider Dexia Credit Local (DCL; ###/Stable/A-2) a government-related entity, a downgrade of France would not in itself prompt us to lower the issuer credit ratings on DCL (see "Ratings On 12 French Banks Affirmed Under Revised Criteria For Financial Institutions," published Feb. 2, 2022). However, it would affect the issue ratings assigned to DCL's debt that is guaranteed by the state....

Bulletin