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Fitch upgrades KAS BANK to A+ following the acquisition by CACEIS

Today, Fitch Ratings announced that it has upgraded KAS BANK’s rating to A+.

03 Oct 2019

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The upgrade from 'Rating Watch Positive' (A-) to A+ follows the acquisition by CACEIS and expresses the fact that KAS BANK now has the institutional support from Crédit Agricole.


Fitch announced that: “In our opinion, until the merger is completed and KAS becomes a branch of CACEIS, the former will benefit from a very high probability of support from Crédit Agricole (A+/Stable/F1/a+).”


The rating actions are as follows:

  • IDR on the long term: A+
  • IDR on the short term: F1

 

For the full press release we refer to the Rating Action Commentary of Fitch Ratings or download a PDF of the announcement here.

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