Dexia Credit Local Debt Programs, Guaranteed By Belgium, France, Luxembourg, Rated 'AA/A-1+'; L-T Rating On Watch Neg - S&P Global Ratings’ Credit Research

Dexia Credit Local Debt Programs, Guaranteed By Belgium, France, Luxembourg, Rated 'AA/A-1+'; L-T Rating On Watch Neg

Dexia Credit Local Debt Programs, Guaranteed By Belgium, France, Luxembourg, Rated 'AA/A-1+'; L-T Rating On Watch Neg - S&P Global Ratings’ Credit Research
Dexia Credit Local Debt Programs, Guaranteed By Belgium, France, Luxembourg, Rated 'AA/A-1+'; L-T Rating On Watch Neg
Published Dec 22, 2011
1496 words — Published Dec 22, 2011
Price US$ 150.00  |  Buy this Report Now

About This Report

  
Abstract:

The governments of Belgium, France, and Luxembourg have extended a temporary guarantee on up to €45 billion of new debt issuance by Dexia Crédit Local (DCL). We have assessed the guarantee and believe it meets our criteria for irrevocability, unconditionality, and timeliness. We are therefore rating DCL's €35 billion French certificate of deposit program 'A-1+' and its €5 billion French negotiable medium-term note program 'AA'. The 'AA' long-term issue rating is on CreditWatch negative, mirroring that on the Kingdom of Belgium. MILAN (Standard&Poor's) Dec. 22, 2011--Standard&Poor's Ratings Services said today that it has assessed the temporary guarantee agreement between Dexia S.A. and Dexia Crédit Local (DCL), and the Kingdom of Belgium (AA/Watch Neg/A-1+), the Republic of

  
Brief Excerpt:

RESEARCH Dexia Credit Local Debt Programs, Guaranteed By Belgium, France, Luxembourg, Rated '##/A-1+'; L-T Rating On Watch Neg Publication date: 22-Dec-2011 Primary Credit Analyst: Taos Fudji, Milan (39) 02-72111-276; taos_fudji@standardandpoors.com...

  
Report Type:

Ratings Action

Ticker
224207Z@FP
Issuer
Dexia
GICS
Diversified Banks (40101010)
Sector
Global Issuers, Public Finance, Structured Finance
Country
France
Region
United States
Format:
PDF Adobe Acrobat
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S&P Global Ratings’ Credit Research—S&P Global Ratings’ credit research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P Global Ratings also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.

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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Dexia Credit Local Debt Programs, Guaranteed By Belgium, France, Luxembourg, Rated 'AA/A-1+'; L-T Rating On Watch Neg" Dec 22, 2011. Alacra Store. May 15, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Dexia-Credit-Local-Debt-Programs-Guaranteed-By-Belgium-France-Luxembourg-Rated-AA-A-1-L-T-Rating-On-Watch-Neg-924163>
  
APA:
S&P Global Ratings’ Credit Research. (). Dexia Credit Local Debt Programs, Guaranteed By Belgium, France, Luxembourg, Rated 'AA/A-1+'; L-T Rating On Watch Neg Dec 22, 2011. New York, NY: Alacra Store. Retrieved May 15, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Dexia-Credit-Local-Debt-Programs-Guaranteed-By-Belgium-France-Luxembourg-Rated-AA-A-1-L-T-Rating-On-Watch-Neg-924163>
  
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