Credit Suisse: Moody’s confirmed rating

8 years ago - Published in Finance, Fundamental Analysis

Moody's today affirmed the ratings of Credit Suisse AG (A1 senior debt, A1 deposits, baa2 Baseline Credit Assessment) following Credit Suisse's announcement of a settlement in principle with the U.S. Department of Justice (DOJ) regarding civil claims in connection with the bank's issuance and underwriting of residential mortgage-backed securities (RMBS) conducted through 2007. Under the agreement, Credit Suisse has agreed to pay a civil monetary penalty of $2.48 billion and to provide $2.8 billion in consumer relief to be delivered over the course of five years post settlement. The outlook on Credit Suisse's debt and deposit ratings is stable.