Natexis Banques Populaires, which is merging with Ixis to form Natixis, hads had it slong term credit rating raised to Aa2 from Aa3 by Moody’s Investors Service, with a stable outlook.
The ratings agency also raised the outlook on its C financial strength rating to positive from stable, on expectations of strong support for the merged company from shareholders Banque Populaire and Ixis owners Caisse d’Epargne.
Natixis will be the largest fund manager in France with Euros 534 billion of assets under management.