CNP Assurances: S&P reduces the outlook

(Boursier.com) — S &P Global Ratings has announced the revision of its outlook for CNP Assurances from ‘stable’ to ‘negative’.

This revision follows an action on the perspective of the French State which affects La Poste Groupe, La Banque Postale and its subsidiary CNP Assurances.

S&P says “We consider CNP Assurances to be a central entity of the La Poste group and therefore any rating action on La Poste would affect CNP Assurances. We also believe that over the next 12 to 24 months CNP Assurances will retain its strong position in the market, including the geographical diversification of its commercial footprint”.

In addition, S&P Global Ratings has revised its outlook for La Banque Postale from ‘stable’ to ‘negative’. This revision follows a similar action on France. The long and short term credit ratings are respectively confirmed at ‘A+’ and ‘A-1’. S&P Global Ratings also confirms the rating of La Banque Postale’s debt instruments.