On Dec. 14, 2004, Standard&Poor's Ratings Services affirmed its 'A' long-term and 'A-1' short-term counterparty credit ratings on Credit Suisse Group (CSG). At the same time, the 'A+' long-term and 'A-1' short-term counterparty credit ratings on Credit Suisse (CS), Credit Suisse First Boston (CSFB), and Credit Suisse First Boston (USA) Inc. were also affirmed. The outlook on the group and its banking entities is stable. The affirmation takes into account CSG's recently announced new strategic direction, which is expected to contribute positively to the group's longer term performance. The strategic platform involves combining business units into a "one bank" structure, with the aim of creating a more focused, more efficient company as a means to sustain long-term growth.
