Research Update: RCI Banque Long-Term Rating Cut To 'BBB' On Renault Downgrade; 'A-2' Short-Term Affirmed; Outlook Negative - S&P Global Ratings’ Credit Research

Research Update: RCI Banque Long-Term Rating Cut To 'BBB' On Renault Downgrade; 'A-2' Short-Term Affirmed; Outlook Negative

Research Update: RCI Banque Long-Term Rating Cut To 'BBB' On Renault Downgrade; 'A-2' Short-Term Affirmed; Outlook Negative - S&P Global Ratings’ Credit Research
Research Update: RCI Banque Long-Term Rating Cut To 'BBB' On Renault Downgrade; 'A-2' Short-Term Affirmed; Outlook Negative
Published Mar 06, 2009
1235 words — Published Mar 06, 2009
Price US$ 225.00  |  Buy this Report Now

About This Report

  
Abstract:

On March 6, 2009, Standard&Poor's Ratings Services lowered its long-term counterparty credit rating on French bank RCI Banque to 'BBB' from 'BBB+'. At the same time, we affirmed the 'A-2' short-term rating and removed both ratings from CreditWatch, where they had been placed with negative implications on Feb. 3, 2009. The outlook is negative. The rating action reflects the downgrade of the parent company Renault S.A. (BBB-/Negative/A-3), as well as our expectation that RCI's financial profile will deteriorate more than we previously anticipated in 2009 and 2010. We expect the sharp economic slowdown to materially weigh on car demand and to continue deteriorating the credit quality of RCI's loan book due to weaker household and dealer solvency in

  
Brief Excerpt:

RESEARCH Research Update: RCI Banque Long-Term Rating Cut To '###' On Renault Downgrade; 'A-2' Short-Term Affirmed; Outlook Negative Publication date: 06-Mar-2009 Primary Credit Analyst: Pierre Gautier, Paris (33) 1-4420-6711; pierre_gautier@standardand...

  
Report Type:

Research Update

Ticker
211718Z@FP
Issuer
RCI Banque
GICS
Consumer Finance (40202010)
Sector
Global Issuers, Structured Finance
Country
France
Region
Europe, Middle East, Africa
Format:
PDF Adobe Acrobat
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Research Update: RCI Banque Long-Term Rating Cut To 'BBB' On Renault Downgrade; 'A-2' Short-Term Affirmed; Outlook Negative" Mar 06, 2009. Alacra Store. May 10, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-RCI-Banque-Long-Term-Rating-Cut-To-BBB-On-Renault-Downgrade-A-2-Short-Term-Affirmed-Outlook-Negative-707187>
  
APA:
S&P Global Ratings’ Credit Research. (). Research Update: RCI Banque Long-Term Rating Cut To 'BBB' On Renault Downgrade; 'A-2' Short-Term Affirmed; Outlook Negative Mar 06, 2009. New York, NY: Alacra Store. Retrieved May 10, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-RCI-Banque-Long-Term-Rating-Cut-To-BBB-On-Renault-Downgrade-A-2-Short-Term-Affirmed-Outlook-Negative-707187>
  
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