Moody's alters Credit Mutuel Arkea view to stable

Moody's Investors Service said it changed Credit Mutuel Arkea’s outlook to stable from negative and affirmed its ratings and rating assessments, notably: its Aa3 and issuer ratings, its Aa3 long-term senior unsecured ratings, its Baa1 junior senior unsecured rating, and its Baa1 subordinated rating,

“Today's actions reflect that Moody's attributes a lower probability to CMA exiting from Groupe Credit Mutuel (GCM) over the next 12-18 months. Although the regional banking group has been pursuing a separation strategy from GCM for several years, the rating agency believes that CMA is still facing numerous obstacles, which are unlikely to be cleared over the outlook horizon. Consequently, despite CMA's recent reaffirmation of its strategy of independence, Moody's assigns a lower probability to the materialization of the separation scenario and changed the bank's rating outlooks to stable,” the agency said in a press release.

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