Research Update: Ratings On Dexia Credit Local Subordinated Debt Lowered To 'CCC+'; Other Ratings Unchanged - S&P Global Ratings’ Credit Research

Research Update: Ratings On Dexia Credit Local Subordinated Debt Lowered To 'CCC+'; Other Ratings Unchanged

Research Update: Ratings On Dexia Credit Local Subordinated Debt Lowered To 'CCC+'; Other Ratings Unchanged - S&P Global Ratings’ Credit Research
Research Update: Ratings On Dexia Credit Local Subordinated Debt Lowered To 'CCC+'; Other Ratings Unchanged
Published Aug 07, 2014
1080 words — Published Aug 07, 2014
Price US$ 225.00  |  Buy this Report Now

About This Report

  
Abstract:

On Aug. 7, 2014, Standard&Poor's Ratings Services corrected its issue ratings on two subordinated lower Tier 2 hybrid capital instruments of Dexia Credit Local (DCL; BBB/Stable/A-2) by lowering them to 'CCC+' from 'B-'. The instruments' residual amounts are respectively €106.4 million (ISIN: XS0284386306; maturity date: Feb. 12, 2019) and €252.1 million (ISIN: XS0307581883; maturity date: July 9, 2017). We also corrected our assessment of DCL's stand-alone credit profile (SACP) by revising it downward to 'b' from 'b+'. All other ratings on DCL remain unchanged. Under our criteria, when we assess a bank's liquidity as weak, we assign the bank an SACP no higher than 'b'. Due to an error, we assessed the SACP of DCL at 'b+' on

  
Brief Excerpt:

RESEARCH Research Update: Ratings On Dexia Credit Local Subordinated Debt Lowered To '###+'; Other Ratings Unchanged Publication date: 07-Aug-2014 Primary Credit Analyst: Arnaud DeToytot, Paris (33) 1-4420-6692; arnaud.detoytot@standardandpoors.com...

  
Report Type:

Research Update

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. "Research Update: Ratings On Dexia Credit Local Subordinated Debt Lowered To 'CCC+'; Other Ratings Unchanged" Aug 07, 2014. Alacra Store. May 15, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Ratings-On-Dexia-Credit-Local-Subordinated-Debt-Lowered-To-CCC-Other-Ratings-Unchanged-1352007>
  
APA:
S&P Global Ratings’ Credit Research. (). Research Update: Ratings On Dexia Credit Local Subordinated Debt Lowered To 'CCC+'; Other Ratings Unchanged Aug 07, 2014. New York, NY: Alacra Store. Retrieved May 15, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Ratings-On-Dexia-Credit-Local-Subordinated-Debt-Lowered-To-CCC-Other-Ratings-Unchanged-1352007>
  
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