Fitch ups BPCE viability rating

Fitch Ratings said it has affirmed Groupe BPCE SA's and the group subsidiaries' long-term issuer default ratings at A and short-term issuer default ratings at F1.

The outlook on the long-term issuer default ratings is stable.

At the same time, Fitch said it has upgraded BPCE's viability rating to A from A-.

The upgrade of the viability rating reflects strengthened capital ratios as BPCE has been posting strong and recurring profits since Q309 and retaining most of its earnings since it fully repaid the state aid received in 2008/2009, the agency noted.

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