S&P changes Credit Suisse view

S&P said it revised to positive from stable its outlook on Credit Suisse AG and the group's other core subsidiaries and affirmed the A/A-1 long- and short-term issuer credit ratings on the entities.

S&P also affirmed the BBB+ long-term issuer credit rating on Credit Suisse Group AG.

The outlook on Credit Suisse Group remains stable.

In addition, the agency affirmed the issue ratings on subordinated and hybrid capital instruments issued by the entities and related entities in the group.

S&P assigned A+/A-1 long- and short-term resolution counterparty ratings to Credit Suisse and rated subsidiaries in Switzerland and the United Kingdom and assigned A/A-1 long- and short-term resolution counterparty ratings to Credit Suisse Securities (USA) LLC.

“The outlook revision on CSAG reflects our assessment that Credit Suisse continues to make progress on its three-year restructuring plan,” the agency said in a news release.

“It follows recent quarters of sustained earnings improvement and risk exposure reductions.”

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