New long-term ratings for Credit Agricole SA, CACIB and Regional Banks

The amendment concerns: Crédit Agricole S.A., Regional Banks and Crédit Agricole Corporate and Investment Bank. The long-term ratings for all debt instruments issued by these entities have been raised by one rating – from A1 to Aa3. The outlook has changed from positive to stable and the short-term rating remains unchanged at P-1.

According to Moody's analysts, the increase in ratings reflects a continuous improvement in the Group's capitalisation level, the quality of its assets and diversification of its revenue sources, which allows it to maintain stable profitability in conditions of low interest rates. This is a testimony to the strength of the Group's universal banking model and its ability to achieve its strategic objectives.

The decision to increase the rating strengthens the already positive perception of the credit quality of the Group's entities. In this way, the Crédit Agricole Group can benefit from more favourable conditions than banks with a lower rating.

The Credit Agricole Group is a major partner of the French economy and one of the largest banking groups in Europe. It is a leading retail bank in Europe, having the largest portfolio of assets under management, being first in the field of bank insurance and third – in project financing in Europe.