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S&P affirms 'A-2' Short-Term Rating for SEB S.A. after the acquisition of WMF

On May 31, 2016, S&P Global Ratings affirmed its 'A-2' short-term corporate credit rating on SEB S.A. following the acquisition of the German group WMF, which will increase the group's fully adjusted ratio of debt to EBITDA to above 3x immediately after the transaction completes, before declining to the 2x-3x range over the next two years. S&P does not expect this will have an impact on the short-term rating. However, the agency has revised downward its assessment of the group's financial risk profile.

Read the complete Research Update analysis.

Research Update

France-Based SEB S.A. 'A-2' Short-Term Rating Affirmed Following Acquisition Of WMF Group