The Crédit Agricole group's capital position is improving steadily on the back of sound profitability. We believe the risk that the group will not meet our capital and earnings expectations has reduced and we are consequently removing this risk from our considerations for the outlook. We are affirming our 'A/A-1' ratings on the group's central body Crédit Agricole S.A. The negative outlook reflects the possible removal of government support by the end of 2015, and the possibility that we could lower the ratings if the group does not strengthen its funding and liquidity in line with our expectations. PARIS (Standard&Poor's) July 10, 2014--Standard&Poor's Ratings Services said today it affirmed its 'A/A-1' counterparty credit ratings on France-based
