Moody's confirms BRd-SocGen's ratings

Rating agency Moody’s has reaffirmed the ratings awarded to BRD-Groupe Soci?t? G?n?rale, and deemed that the losses registered by the parent bank – Soci?t? G?n?rale France, from the recent 4.9 billion-euro fraud, would not have an impact on the subsidiary’s activity. The financial solidarity rating “D plus” was confirmed, with a stable outlook. The financial ratings agency has also reconfirmed the “A2” ratings for local currency deposits, for long-term deposits and Prime-1, for short-term deposits. The rating outlook for the bank’s deposits is stable. Moody’s has reconfirmed the ratings awarded to BRD-Groupe Soci?t? G?n?rale after, on January 24, it downwardly revised the ratings granted to the parent bank.