The CEB’s AAA rating confirmed by Standard & Poor’s

The AAA rating is underpinned by the CEB’s “franchise value” and the “historical performance of its loan portfolio”. S&P views the CEB’s past asset quality performance as excellent. S&P expects that the CEB’s capitalization ratios will improve as growth of shareholders equity exceeds loan growth. S&P also underlines that the CEB’s liquidity position benefits from its shareholders’ support and its good access to several funding markets.

CEB continues to be assigned the best possible long term and short term credit ratings by Moody’s (Aaa – stable outlook) and Fitch Ratings (AAA with a credit watch negative since 19 December 2011). In CEB’s view these excellent ratings reflect the CEB’s strong financial profile, its conservative and rigorous risk management and liquidity policies and the renewed sustained support of its shareholders with the 6th capital increase which entered into force on 31 December 2011.

Further details are available in the S&P press release posted on the CEB website.