By Noemie Bisserbe
PARIS--Fitch Ratings Wednesday downgraded three major French
banks, a few days after stripping France of its triple-A credit
rating, leaving the country bereft of any top-notch assessment by
the major firms.
Fitch cut its long-term credit rating for Credit Agricole SA
(CRARY, ACA.FR), Societe Generale SA (SCGLY, GLE.FR), and Groupe
BPCE by one notch to A from A+.
"Fitch considers its ability to support French banks has
decreased slightly," said the rating firm in a statement.
Fitch, however maintained its A+ rating for BNP Paribas SA
(BNPQY, BNP.FR), France's largest listed bank by assets, citing its
"standalone financial strength."
Write to Noemie Bisserbe at noemie.bisserbe@dowjones.com