S&P affirms SocGen A/A-1 rating on stronger capital position
PARIS, July 18
PARIS, July 18 (Reuters) - Standard & Poor's said on Friday it had affirmed its 'A/A-1' long- and short-term credit ratings on Societe Generale in light of the French bank's improving capital position.
"We expect that in 2014 and 2015 the group will maintain or improve its capital ratios at or above the current level, that is, well above 7 percent, supported by sound profits and helped by contained low single-digit growth in Standard & Poor's risk-weighted assets," the rating agency said in a statement.
It said that its outlook on the rating remained negative because extraordinary government support may become less predictable under new European regulations. (Reporting by Leigh Thomas; Editing by James Regan)
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