DBRS lowers Credit Agricole view to negative

DBRS said it confirmed the issuer ratings of Credit Agricole, CA and Credit Agricole SA at AA (low,) as well as Credit Agricole SA's AA (low) senior long-term debt and deposits rating and R-1 (middle) short-term debt and deposits rating.

The trend was revised to negative from stable.

The agency said the trend change considers the pressure arising from the ongoing crisis in the euro zone, the continuing disruptions in the financial markets that are elevating the stresses facing universal banks that make significant use of wholesale funding and the weakening of economies in Europe and globally.

DBRS said it perceives that these stresses are increasing the potential negative impact of the deteriorating environment on Credit Agricole's funding profile and its earnings generation capacity.

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