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S&P changes outlook on Banque Cantonale de Genève to stable

Dec 31, 2018 - SNL European Financials Daily

S&P Global Ratings on Dec. 27 revised the outlook on Switzerland-based Banque Cantonale de Genève to stable from negative while affirming its long- and short-term issuer credit ratings at A+/A-1.

The outlook change follows a similar Dec. 21 action by S&P on the Swiss Republic and Canton of Geneva, and reflects the agency's view that the bank has a high likelihood of receiving extraordinary financial support from Geneva in case of need.

A downgrade of Geneva's ratings or a weakening ...