Moody’s upgrades CA Auto Bank to ‘A3’ with stable outlook

Moody’s Ratings has upgraded Crédit Agricole Auto Bank’s long-term deposit and issuer ratings to ‘A3’ from ‘Baa1’, reflecting strengthened confidence in the bank’s financial position and its backing from the wider Crédit Agricole Group. The agency also assigned a stable outlook.

The upgrade follows Moody’s recent decision to raise Italy’s sovereign rating, a move that has improved the operating environment for Italian financial institutions. As a result, Crédit Agricole Auto Bank’s credit profile has also benefited.

Moody’s said the ratings continue to be supported by the high likelihood of parental support from the Crédit Agricole Group, one of Europe’s largest banking networks. This support remains a key factor underpinning the auto finance bank’s stability and resilience.

The stable outlook indicates Moody’s expectation that Crédit Agricole Auto Bank will maintain solid financial fundamentals while continuing to benefit from its strategic importance within the Crédit Agricole ecosystem.