Standard & Poor's Places Several Large Bank Groups Across The Eurozone On CreditWatch Negative |
| Publication date: 07-Dec-2011 14:40:24 EST |
LONDON (Standard & Poor's) Dec. 7, 2011--Standard & Poor's Ratings Services said today that it has placed its ratings on some of the largest rated banking groups in the eurozone on CreditWatch with negative implications (see ratings list below). Similar rating actions on other large banks in the eurozone will follow soon. This follows the placement of the sovereign credit ratings on 15 members of the European Economic and Monetary Union (EMU or eurozone) on CreditWatch with negative implications on Dec. 5, 2011 (see "Standard & Poor's Puts Ratings On Eurozone Sovereigns On CreditWatch With Negative Implications") . We believe that the ratings on Austria, Belgium, Finland, Germany, The Netherlands, and Luxembourg could be lowered by up to one notch, if at all, and those on Estonia, France, Ireland, Italy, Malta, Portugal, Slovak Republic, Slovenia, and Spain by up to two notches, if at all. We intend to resolve the CreditWatch placement on these banks soon after the resolution of the CreditWatch placement on the related sovereign. We will publish individual research updates on some of the banks identified below including a list of ratings on affiliated rated entities. The research updates will be available at www.standardandpoors.com/AI4FI and on RatingsDirect on the Global Credit Portal. Ratings on specific issues will be available on RatingsDirect on the Global Credit Portal and www.standardandpoors.com following release. RATINGS LIST The ratings listed below are issuer credit ratings. To From Barclays Bank Ireland PLC Long-Term Counterparty Credit Rating A-/Watch Neg A-/Stable Short-Term Counterparty Credit Rating A-2 A-2 BNP Paribas AA-/Watch Neg/A-1+ AA-/Stable/A-1+ Banca Nazionale del Lavoro SpA A/Watch Neg/A-1 A/Negative/A-1 BGL BNP Paribas S.A.AA-/Watch Neg/A-1+ AA-/Stable/A-1+ BNP Paribas Personal Finance AA-/Watch Neg/A-1+ AA-/Stable/A-1+ BNP Paribas Cardif A+/Watch Neg/-- A+/Stable/-- Cardif Assurance Vie AA-/Watch Neg/-- AA-/Stable/-- Cardif-Assurances Risques Divers AA-/Watch Neg/-- AA-/Stable/-- BNP Paribas (China) Ltd. Long-Term Counterparty Credit Rating A+/Watch Neg A+/Stable Short-Term Counterparty Credit Rating A-1 A-1 BNP Paribas Securities Corp. AA-/Watch Neg/A-1+ AA-/Stable/A-1+ BNP Paribas Securities Services AA-/Watch Neg/A-1+ AA-/Stable/A-1+ Fortis Bank S.A./N.V. AA-/Watch Neg/A-1+ AA-/Stable/A-1+ BPCE Long-Term Counterparty Credit Rating A+/Watch Neg A+/Stable Short-Term Counterparty Credit Rating A-1 A-1 BRED-Banque Populaire Long-Term Counterparty Credit Rating A+/Watch Neg A+/Stable Short-Term Counterparty Credit Rating A-1 A-1 Compagnie Europeenne de Garanties et Cautions A+/Watch Neg/-- A+/Stable/-- Credit Foncier de France A/Watch Neg/A-1 A/Stable/A-1 Locindus S.A. A/Watch Neg/A-1 A/Stable/A-1 Natixis S.A. Long-Term Counterparty Credit Rating A+/Watch Neg A+/Stable Short-Term Counterparty Credit Rating A-1 A-1 Natixis Australia Pty Ltd. Long-Term Counterparty Credit Rating A+/Watch Neg A+/Stable Short-Term Counterparty Credit Rating A-1 A-1 Natixis Financial Products LLC Long-Term Counterparty Credit Rating A+/Watch Neg A+/Stable Short-Term Counterparty Credit Rating A-1 A-1 Commerzbank AG A/Watch Neg/A-1 A/Negative/A-1 Commerzbank International S.A. A/Watch Neg/A-1 A/Negative/A-1 Commerzbank Europe (Ireland) A/Watch Neg/A-1 A/Negative/A-1 Eurohypo AG A-/Watch Neg/A-2 A-/Negative/A-2 EUROHYPO Europaeische Hypothekenbank S.A. A-/Watch Neg/A-2 A-/Negative/A-2 Cooperatieve Centrale Raiffeisen-Boerenleenbank B.A. (Rabobank Nederland) Long-Term Counterparty Credit Rating AA/Watch Neg AA/Stable Short-Term Counterparty Credit Rating A-1+ A-1+ Rabobank Australia Ltd. Long-Term Counterparty Credit Rating AA/Watch Neg AA/Stable Short-Term Counterparty Credit Rating A-1+ A-1+ Rabobank New Zealand Ltd. Long-Term Counterparty Credit Rating AA/Watch Neg AA/Stable Short-Term Counterparty Credit Rating A-1+ A-1+ Rabohypotheekbank N.V. AA/Watch Neg/-- AA/Stable/-- Credit Agricole S.A. Long-Term Counterparty Credit Rating A+/Watch Neg A+/Stable Short-Term Counterparty Credit Rating A-1 A-1 Banque de Financement et de Tresorerie A/Watch Neg/A-1 A/Stable/A-1 CA Consumer Finance Long-Term Counterparty Credit Rating A+/Watch Neg A+/Stable Short-Term Counterparty Credit Rating A-1 A-1 CACEIS Long-Term Counterparty Credit Rating A+/Watch Neg A+/Stable Short-Term Counterparty Credit Rating A-1 A-1 Cassa di Risparmio di Parma e Piacenza SpA A/Watch Neg/A-1 A/Negative/A-1 Credit Lyonnais Long-Term Counterparty Credit Rating A+/Watch Neg A+/Stable Short-Term Counterparty Credit Rating A-1 A-1 Credit Agricole CIB Australia Ltd. Long-Term Counterparty Credit Rating A+/Watch Neg A+/Stable Short-Term Counterparty Credit Rating A-1 A-1 Credit Agricole Corporate and Investment Bank Long-Term Counterparty Credit Rating A+/Watch Neg A+/Stable Short-Term Counterparty Credit Rating A-1 A-1 Caisse Regionale de Credit Agricole Mutuel Alpes Provence Caisse Regionale de Credit Agricole Mutuel Alsace-Vosges Caisse Regionale de Credit Agricole Mutuel Atlantique Vendee Caisse Regionale de Credit Agricole Mutuel Brie Picardie Caisse Regionale de Credit Agricole Mutuel Centre-Est Caisse Regionale de Credit Agricole Mutuel Charente Perigord Caisse Regionale de Credit Agricole Mutuel Nord de France Caisse Regionale de Credit Agricole Mutuel Normandie Caisse Regionale de Credit Agricole Mutuel Paris Ile-de-France Caisse Regionale de Credit Agricole Mutuel Provence Cote d'Azur Caisse Regionale de Credit Agricole Mutuel Pyrenees-Gascogne Caisse Regionale de Credit Agricole Mutuel Sud Rhone-Alpes Caisse Regionale de Credit Agricole Mutuel Sud-Mediterranee Caisse Regionale de Credit Agricole Mutuel Toulouse 31 Caisse Regionale de Credit Agricole Mutuel d'Aquitaine Caisse Regionale de Credit Agricole Mutuel d'Ille et Vilaine Caisse Regionale de Credit Agricole Mutuel de Centre Loire Caisse Regionale de Credit Agricole Mutuel de Centre-France Caisse Regionale de Credit Agricole Mutuel de Champagne-Bourgogne Caisse Regionale de Credit Agricole Mutuel de Charente-Maritime Deux Sevres Caisse Regionale de Credit Agricole Mutuel de Franche-Comte Caisse Regionale de Credit Agricole Mutuel de Normandie-Seine Caisse Regionale de Credit Agricole Mutuel de l'Anjou et du Maine Caisse Regionale de Credit Agricole Mutuel de la Reunion Caisse Regionale de Credit Agricole Mutuel de la Guadeloupe Caisse Regionale de Credit Agricole Mutuel de la Touraine et du Poitou Caisse Regionale de Credit Agricole Mutuel des Cotes D'Armor Caisse Regionale de Credit Agricole Mutuel des Savoie Caisse Regionale de Credit Agricole Mutuel du Centre Ouest Caisse Regionale de Credit Agricole Mutuel du Finistere Caisse Regionale de Credit Agricole Mutuel du Languedoc Caisse Regionale de Credit Agricole Mutuel du Morbihan Caisse Regionale de Credit Agricole Mutuel du Nord-Est Long-Term Counterparty Credit Rating A+/Watch Neg A+/Stable Short-Term Counterparty Credit Rating A-1 A-1 Deutsche Bank AG Long-Term Counterparty Credit Rating A+/Watch Neg A+/Negative Short-Term Counterparty Credit Rating A-1 A-1 Deutsche Bank AG (Canada Branch) Long-Term Counterparty Credit Rating A+/Watch Neg A+/Negative Short-Term Counterparty Credit Rating A-1 A-1 Deutsche Bank Luxembourg S.A. Long-Term Counterparty Credit Rating A+/Watch Neg A+/Negative Short-Term Counterparty Credit Rating A-1 A-1 Deutsche Bank National Trust Company Long-Term Counterparty Credit Rating A+/Watch Neg A+/Negative Short-Term Counterparty Credit Rating A-1 A-1 Deutsche Bank Securities Inc. Long-Term Counterparty Credit Rating A+/Watch Neg A+/Negative Short-Term Counterparty Credit Rating A-1 A-1 Deutsche Bank Trust Corp. Long-Term Counterparty Credit Rating A+/Watch Neg A+/Negative Short-Term Counterparty Credit Rating A-1 A-1 Deutsche Bank Trust Co. Americas Long-Term Counterparty Credit Rating A+/Watch Neg A+/Negative Short-Term Counterparty Credit Rating A-1 A-1 Deutsche Bank Trust Company Delaware Long-Term Counterparty Credit Rating A+/Watch Neg A+/Negative Short-Term Counterparty Credit Rating A-1 A-1 Deutsche Postbank AG A/Watch Neg/A-1 A/Negative/A-1 Deutsche Securities Inc. Long-Term Counterparty Credit Rating A+/Watch Neg A+/Negative Short-Term Counterparty Credit Rating A-1 A-1 Intesa Sanpaolo SpA A/Watch Neg/A-1 A/Negative/A-1 Banca Infrastrutture Innovazione e Sviluppo SpA (BIIS) A/Watch Neg/A-1 A/Negative/A-1 Banca IMI SpA A/Watch Neg/A-1 A/Negative/A-1 Ulster Bank Ltd. BBB+/Watch Neg/A-2 BBB+/Stable/A-2 Ulster Bank Ireland Ltd. BBB+/Watch Neg/A-2 BBB+/Stable/A-2 Rabobank USA Financial Corp. A-1+ A-1+ Societe Generale Long-Term Counterparty Credit Rating A+/Watch Neg A+/Stable Short-Term Counterparty Credit Rating A-1 A-1 Banque Kolb S.A. Long-Term Counterparty Credit Rating A+/Watch Neg A+/Stable Short-Term Counterparty Credit Rating A-1 A-1 Banque Rhone Alpes S.A. Long-Term Counterparty Credit Rating A+/Watch Neg A+/Stable Short-Term Counterparty Credit Rating A-1 A-1 Banque Tarneaud S.A. Long-Term Counterparty Credit Rating A+/Watch Neg A+/Stable Short-Term Counterparty Credit Rating A-1 A-1 Credit du Nord S.A. Long-Term Counterparty Credit Rating A+/Watch Neg A+/Stable Short-Term Counterparty Credit Rating A-1 A-1 Franfinance Long-Term Counterparty Credit Rating A+/Watch Neg A+/Stable Short-Term Counterparty Credit Rating A-1 A-1 Komercni Banka A.S. Long-Term Counterparty Credit Rating A+/Watch Neg A+/Stable Short-Term Counterparty Credit Rating A-1 A-1 SG Americas Securities LLC Long-Term Counterparty Credit Rating A+/Watch Neg A+/Stable Short-Term Counterparty Credit Rating A-1 A-1 Societe Generale Bank & Trust Long-Term Counterparty Credit Rating A+/Watch Neg A+/Stable Short-Term Counterparty Credit Rating A-1 A-1 UniCredit SpA A/Watch Neg/A-1 A/Negative/A-1 UniCredit Leasing SpA A/Watch Neg/A-1 A/Negative/A-1 UniCredit Bank Austria AG A/Watch Neg/A-1 A/Negative/A-1 UniCredit Bank AG A/Watch Neg/A-1 A/Negative/A-1 Bank Polska Kasa Opieki S.A. Long-Term Counterparty Credit Rating A-/Watch Neg A-/Stable Short-Term Counterparty Credit Rating A-2 A-2 RELATED CRITERIA AND RESEARCH
- Banks: Rating Methodology And Assumptions, Nov. 9, 2011
- Banking Industry Country Risk Assessment Methodology And Assumptions, Nov. 9, 2011
- Group Rating Methodology And Assumptions, Nov. 9, 2011
- Bank Hybrid Capital Methodology And Assumptions, Nov. 1, 2011
- Bank Capital Methodology And Assumptions, Dec. 6, 2010
- Use Of CreditWatch And Outlooks, Sept. 14, 2009
Complete ratings information is available to subscribers of RatingsDirect on the Global Credit Portal at www.globalcreditportal.com. All ratings affected by this rating action can be found on Standard & Poor's public Web site at www.standardandpoors.com. Use the Ratings search box located in the left column. Alternatively, call one of the following Standard & Poor's numbers: Client Support Europe (44) 20-7176-7176; London Press Office (44) 20-7176-3605; Paris (33) 1-4420-6708; Frankfurt (49) 69-33-999-225; Stockholm (46) 8-440-5914; or Moscow 7 (495) 783-4009.
| Primary Credit Analyst: | Jesus Martinez, Madrid (34) 91-389-6941; jesus_martinez@standardandpoors.com |
| Secondary Contacts: | Markus Schmaus, Frankfurt (49) 69-33-999-155; markus_schmaus@standardandpoors.com |
| Renato Panichi, Milan (39) 02 72111-215; renato_panichi@standardandpoors.com | |
| David Harrison, London (44) 20-7176-7064; david_harrison@standardandpoors.com | |
| Additional Contact: | Financial Institutions Ratings Europe; FIG_Europe@standardandpoors.com |
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