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Sovereign Wealth Funds Briefing - Categorized | Performance

S&P downgrades France’s wealth fund

Posted on 25 January 2012

Standard & Poor’s Ratings Services late Monday said it stripped France’s sovereign wealth fund of its triple-A rating and lowered its long-term credit ratings on Groupe BPCE, Credit Agricole , and Societe Generale to A from A-plus.
The outlook on each bank rating is stable, the firm said. S&P lowered its long-term credit rating on state-backed Caisse de Depots et Consignations, the country’s sovereign wealth fund, to AA-plus from triple-A, with a negative outlook………………………………………..Full Article: Source


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