Creditreform Rating has confirmed the rating of Crédit du Nord SA with 'BBB+'. The outlook was changed from 'watch negative' to negative´. In addition, Creditreform Rating has determined the rating of the debt classes as follows. The rating of the Additional Tier 1 class was confirmed at 'BB-'. The rating of the Tier 2 class was confirmed at 'BB'. The rating of the Non-Preferred Senior Unsecured class was confirmed at 'BBB'. The rating of the Preferred Senior Unsecured class was confirmed at 'BBB+'. For further information please refer to our Rating Report on our homepage.
Creditreform Rating has set the rating of all valid bank ratings and bank issues to watch negative due to the currently not assessable impact of the Corona Crisis. Not affected by this rating action are government related banks. We refer to the free available Monitoring Report for a more detailed explanation.
Creditreform Rating has affirmed the rating of Crédit du Nord SA with BBB+. The outlook is stable. In addition, Creditreform Rating affirmed the rating of Additional Tier 1 with BB- and the rating of Tier 2 with BB. The rating of the preferred senior unsecured debt class was also affirmed at BBB+ (after reclassification from senior unsecured debt). The rating of the non-preferred senior unsecured debt was set to BBB.