In the context of Scope Ratings’ strategy of focussing on the needs of institutional investors, Scope will offer its unsolicited bank and covered bond credit ratings on a subscription basis only via its credit intelligence platform.

Scope Ratings has updated its rating report on Credit Agricole SA’s AT1 securities.

Scope Ratings has updated its analysis on Credit Agricole’s AT1 and T2 securities. Ratings were also assigned to the 8.125% USD 1.25bn AT1 securities issued in January 2016.

The review is driven by the increased clarity and transparency within the Crédit Agricole Group and by improving recurring profitability despite slow-moving French economy.

Confirmation reflects Scope Ratings’ view that the intragroup transfer of non-voting capital announced as a possibility a week ago represents a positive step toward providing better clarity and transparency to Crédit Agricole’s group structure.

Upgrade follows transfer of EUR 10.658bn of issue premium to a reserve account, therefore significantly increasing the bank’s Available Distributable Items (ADIs).

Over 45 capital instruments of 11 banks in six EU countries and in Switzerland rated