Today Fitch announced that KAS BANK is placed on Rating Watch Positive (RWP).
07 Aug 2019
The rating action follows the launch of the public offer by CACEIS for 100% of the share capital of KAS BANK. Fitch believes there is a high likelihood that the acquisition will be successfully executed.
Fitch states: “In our opinion, once the acquisition is completed and before KAS BANK becomes a branch of CACEIS, the former will benefit from a high probability of support from Crédit Agricole (A+/Stable/F1/a+)”.
The rating actions are as follows:
- Long-Term IDR: A-, placed on RWP
- Short-Term IDR: F2, placed on RWP
- Support Rating: 5, placed on RWP
For the full notification we refer to the Rating Action Commentary of Fitch Ratings or download the notification as a PDF via the button below.