Ratings On Certain Credit Agricole Hybrids Raised On Increased Distance To Regulatory Trigger - S&P Global Ratings’ Credit Research

Ratings On Certain Credit Agricole Hybrids Raised On Increased Distance To Regulatory Trigger

Ratings On Certain Credit Agricole Hybrids Raised On Increased Distance To Regulatory Trigger - S&P Global Ratings’ Credit Research
Ratings On Certain Credit Agricole Hybrids Raised On Increased Distance To Regulatory Trigger
Published Aug 11, 2016
3 pages (1407 words) — Published Aug 11, 2016
Price US$ 150.00  |  Buy this Report Now

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Abstract:

LONDON (S&P Global Ratings) Aug. 11, 2016--S&P Global Ratings said today that it has raised its ratings on the additional Tier 1 (AT1) instruments and the Tier 2 contingent convertible instrument issued by Credit Agricole S.A. (CASA) to 'BB+' from 'BB' and to 'BBB' from 'BBB-', respectively. The rating actions follow the improvement in Groupe Crédit Agricole's (GCA) common equity Tier 1 (CET1) ratio, which increases the distance to the going-concern trigger included in the instruments' documentation. GCA's CET1 ratio increased to 14% (phased-in) and 14.2% (fully-loaded) at end-June 2016. We expect a further strengthening in the group's ratio in the coming quarters, supported by the group's sound earnings generation and its target of achieving a CET1 ratio of at

  
Brief Excerpt:

...LONDON (S&P Global Ratings) Aug. 11, 2016--S&P Global Ratings said today that it has raised its ratings on the additional Tier 1 (AT1) instruments and the Tier 2 contingent convertible instrument issued by Credit Agricole S.A. (CASA) to '##+' from '##' and to '###' from '###-', respectively. The rating actions follow the improvement in Groupe CrTdit Agricole's (GCA) common equity Tier 1 (CET1) ratio, which increases the distance to the going-concern trigger included in the instruments' documentation. GCA's CET1 ratio increased to 14% (phased-in) and 14.2% (fully-loaded) at end-June 2016. We expect a further strengthening in the group's ratio in the coming quarters, supported by the group's sound earnings generation and its target of achieving a CET1 ratio of at least 16% by end-2019. We are cognizant that future regulatory developments could affect European banks' capital ratios (see "The Latest Basel Proposals May Cause Bank Models To Fall Out Of Fashion," published on June 29, 2016 on...

  
Report Type:

Ratings Action

Ticker
ACA@FP
Issuer
Credit Agricole S.A.
GICS
Diversified Banks (40101010)
Sector
Global Issuers, Public Finance, Structured Finance
Country
France
Region
United States
Format:
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Ratings On Certain Credit Agricole Hybrids Raised On Increased Distance To Regulatory Trigger" Aug 11, 2016. Alacra Store. May 14, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Ratings-On-Certain-Credit-Agricole-Hybrids-Raised-On-Increased-Distance-To-Regulatory-Trigger-1691695>
  
APA:
S&P Global Ratings’ Credit Research. (). Ratings On Certain Credit Agricole Hybrids Raised On Increased Distance To Regulatory Trigger Aug 11, 2016. New York, NY: Alacra Store. Retrieved May 14, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Ratings-On-Certain-Credit-Agricole-Hybrids-Raised-On-Increased-Distance-To-Regulatory-Trigger-1691695>
  
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