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.

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