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Fitch places KAS BANK on Rating Watch Positive on CACEIS’ takeover bid

Today Fitch announced that KAS BANK is placed on Rating Watch Positive (RWP).

02 Aug 2019

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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.

Rating Action Commentary - August 2019

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Pat Sharman

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Pat Sharman

Managing Director - UK Branch
+44 207 153 3660