Credit Agricole and Societe Generale downgraded by S&P - News and Current Events | futures io social day trading
futures io futures trading


Credit Agricole and Societe Generale downgraded by S&P
Updated: Views / Replies:244 / 0
Created: by kbit Attachments:0

Welcome to futures io.

(If you already have an account, login at the top of the page)

futures io is the largest futures trading community on the planet, with over 90,000 members. At futures io, our goal has always been and always will be to create a friendly, positive, forward-thinking community where members can openly share and discuss everything the world of trading has to offer. The community is one of the friendliest you will find on any subject, with members going out of their way to help others. Some of the primary differences between futures io and other trading sites revolve around the standards of our community. Those standards include a code of conduct for our members, as well as extremely high standards that govern which partners we do business with, and which products or services we recommend to our members.

At futures io, our focus is on quality education. No hype, gimmicks, or secret sauce. The truth is: trading is hard. To succeed, you need to surround yourself with the right support system, educational content, and trading mentors – all of which you can find on futures io, utilizing our social trading environment.

With futures io, you can find honest trading reviews on brokers, trading rooms, indicator packages, trading strategies, and much more. Our trading review process is highly moderated to ensure that only genuine users are allowed, so you don’t need to worry about fake reviews.

We are fundamentally different than most other trading sites:
  • We are here to help. Just let us know what you need.
  • We work extremely hard to keep things positive in our community.
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts.
  • We firmly believe in and encourage sharing. The holy grail is within you, we can help you find it.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.

You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

Reply
 
Thread Tools Search this Thread
 

Credit Agricole and Societe Generale downgraded by S&P

  #1 (permalink)
Elite Member
Aurora, Il USA
 
Futures Experience: Advanced
Platform: TradeStation
Favorite Futures: futures
 
kbit's Avatar
 
Posts: 5,872 since Nov 2010
Thanks: 3,301 given, 3,332 received

Credit Agricole and Societe Generale downgraded by S&P

Credit Agricole and Societe Generale had their credit ratings cut from A+ with a stable outlook to A, while state bank Caisse des Depots et Consignations had its rating cut from AAA to AA+.


BNP Paribas, France's largest bank by market capitalisation and one of the largest financial groups in the eurozone, had its credit rating left unchanged.


S&P's actions follow its stripping France of its AAA rating nearly two weeks ago, as it downgraded several major eurozone countries, including Austria, Italy and Spain.


"The downgrade of some of these banks follows the downgrade of France," S&P said in a statement.

Before the sovereign downgrade, S&P factored two notches of government support into the ratings of the banks, however after cutting the country's rating the level of support was reduced to one notch.

Shares in Societe General, France's second largest bank by market capitalisation, closed down 1.2pc at €21.57 on Tuesday. Credit Agricole, which is France's third largest bank, saw its shares fall 4.1pc to close at €5.
Societe Generale said it was unsurprised by S&P's decision and had been expecting its credit rating to be cut ever since France's sovereign downgrade.

"This downgrade is a direct consequence of the methodology used by S&P, which builds into our rating an element of systemic support by the French state, whose own sovereign rating has been recently cut," said the bank in a statement.

Several other major eurozone banks are likely to see their ratings cut by S&P as the agency begins to factor in its other sovereign downgrades.

Germany is the only eurozone member to have a stable AAA rating from S&P.
The UK also continues to maintain a top-rating from all the major ratings agencies, though there are fears that if the economic situation were to worsen this could come under increasing threat.


Credit Agricole and Societe Generale downgraded by S&P - Telegraph

Reply With Quote

Reply



futures io > > > > Credit Agricole and Societe Generale downgraded by S&P

Thread Tools Search this Thread
Search this Thread:

Advanced Search



Upcoming Webinars and Events (4:30PM ET unless noted)

Jigsaw Trading: TBA

Elite only

FuturesTrader71: TBA

Elite only

NinjaTrader: TBA

Jan 18

RandBots: TBA

Jan 23

GFF Brokers & CME Group: Futures & Bitcoin

Elite only

Adam Grimes: TBA

Elite only

Ran Aroussi: TBA

Elite only
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
France Downgraded by S&P, Others Set to Follow: Reports Quick Summary News and Current Events 1 January 13th, 2012 05:07 PM
S&P says no cut planned in US credit rating kbit News and Current Events 0 November 21st, 2011 08:30 PM
U.S. loses AAA credit rating, downgraded from S&P kbit News and Current Events 39 September 22nd, 2011 12:43 AM
Italy's Debt Rating Downgraded By S&P; Outlook Still Negative Quick Summary News and Current Events 0 September 19th, 2011 10:00 PM
S&P warns it may downgrade US credit rating kbit News and Current Events 1 July 15th, 2011 02:43 PM


All times are GMT -4. The time now is 12:34 AM.

Copyright © 2017 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts
Page generated 2017-12-16 in 0.06 seconds with 19 queries on phoenix via your IP 54.226.113.250