Moody’s lifts PSA Banque France

Moody's Investors Service said it upgraded the long-term deposit, senior unsecured and issuer ratings of PSA Banque France to A3 from Baa1.

The outlook remains stable.

Moody's also upgraded the bank’s baseline credit assessment to baa3 from ba1, its counterparty risk ratings to A2/Prime-1 from A3/Prime-2 and its counterparty risk assessment to A2(cr)/Prime-1(cr) from A3(cr)/Prime-2(cr).

The agency said the upgrades were driven by a view that the bank's unusually complex governance arrangements were no longer likely to present material additional risk.

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