On Oct. 24, 2014, we affirmed our 'A/A-1' ratings on French postal operator La Poste. We equalize the long-term rating on La Banque Postale with the group credit profile of its parent, La Poste, which we assess at 'a' including potential government support. We are therefore affirming our 'A/A-1' ratings on La Banque Postale. The stable outlook mirrors that on La Poste. On Oct. 24, 2014, Standard&Poor's Ratings Services affirmed its 'A' long-term and 'A-1' short-term counterparty ratings of La Banque Postale. The outlook is stable. We have affirmed our long-term rating on La Banque Postale because we equalize it with La Poste's group credit profile (GCP), which we assess at 'a'. We believe that La Poste will
