Rating agencies unmoved by Calyon's rogue trade

Standard & Poor's, Fitch Ratings and Moody's Investors Service all affirmed their ratings and ratings outlooks for Calyon and its parent company, Credit Agricole, following the disclosure of a large rogue trade last month.

The agencies commented on September 19, satisfied for the time being that risk management controls at the investment banking arm of Credit Agricole are adequate following its shock announcement on September 18 that a large unauthorised credit derivatives index trade would k

To continue reading...

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: