Moody's lowers Dexia Crediop

Moody's Investors Service said it downgraded Dexia Crediop SpA's long-term senior debt and deposit ratings by two notches to B2 from Ba3.

The downgrade to B2 directly follows Moody's concurrent downgrade of Dexia Crediop's standalone bank financial strength rating to E, mapping to caa1 on the long-term scale, from E+/b2.

Both actions follow Moody's downgrade of Dexia Credit Local to Baa2/E, as the controlling owner of Dexia Crediop.

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