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S&P Assigns SG Americas Securities, LLC the Same Rating as Societe Generale Group 'A+/A-1, Outlook Stable'.

NEW YORK, Nov. 2, 2011 /PRNewswire/ -- Standard & Poor's assigned its A+/A-1 long and short term counterparty credit ratings (outlook stable) to SG Americas Securities, LLC (SGAS), the registered U.S.-based broker-dealer and wholly-owned subsidiary of the Societe Generale Group.

For the rating agency, the decision reflects that:

* SGAS offers brokerage and investment banking services to a variety of institutional clients. It is registered in all 50 states, it is a member of FINRA, and is regulated by FINRA and the SEC. In February 2011, the Federal Reserve Bank of New York designated SGAS a primary dealer. It had US$31 billion of balance sheet assets as of Dec. 31, 2010, and its $2.2 billion of equity capital was about 4% of that of its ultimate parent.

* S&P classifies SGAS as a core subsidiary under its group rating methodology, and therefore its ratings are equal to those of Societe Generale.

* SGAS is a wholly owned indirect subsidiary of Societe Generale. It is the hub for the bank's investment banking business in the US, which S&P considers as integral to the overall group strategy.

* SGAS has very close operational integration with Societe Generale, effectively operating as a division of the group.

* SGAS is separately organized mainly for regulatory reasons. Societe Generale has shown financial support to SGAS through short-term and subordinated funding, and by maintaining SGAS's regulatory capital position. S&P also expects it would provide additional capital and other support if required during a stressed scenario.

* The outlook is stable, and S&P expects that the ratings on SGAS will move in line with those on Societe Generale.

Societe Generale

Societe Generale is one of the largest European financial services groups. Based on a diversified universal banking model, the Group combines financial solidity with a strategy of sustainable growth, and aims to be the reference for relationship banking, recognised on its markets, close to clients, chosen for the quality and commitment of its teams.

Its 157,000 employees* based in 85 countries accompany more than 33 million clients throughout the world on a daily basis. Societe Generale' teams offer advice and services to individual, corporate and institutional customers in three core businesses:

* Retail banking in France with the Societe Generale branch network, Credit du Nord and Boursorama

* International retail banking, with a presence in Central and Eastern Europe and Russia, in the Mediterranean basin, in Sub-Saharan Africa, in Asia and in the French Overseas Territories

* Corporate and investment banking with a global expertise in investment banking, financing and global markets.

Societe Generale is also a significant player in specialised financing and insurance, private banking, asset management and securities services.

Societe Generale is included in the international socially-responsible investment indices: FTSE4good and ASPI.

* including employees of Societe Marseillaise de Credit acquired in September 2010 by Credit du Nord

Societe Generale Corporate & Investment Banking

At the core of Societe Generale's universal banking business model, the Corporate & Investment Bank is a well-diversified and leading player with nearly 12,000 professionals present in 33 countries across Europe, the Americas and Asia-Pacific.

Standing by its clients across sectors, the Corporate & Investment Bank tailors solutions for them by capitalising on its worldwide expertise in investment banking, global finance, and global markets.

* For Corporates, Financial Institutions and public sector: providing a global advisory approach (M&A, debt, equity transaction, capital structure, and asset & liability management), as well as quality capital raising solutions across the debt and equity spectrum, optimised financing and expert risk management responses notably in the realm of foreign exchange and rates derivatives.

* For investors: offering reliable and sound investment opportunities and risk management solutions through its integrated global markets platform delivering seamless access to markets (equity, rates, credit, currencies, commodities and derivatives), as well as advice and solid financial engineering, quality of execution and forwardlooking research across asset classes.

SOURCE Societe Generale
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Publication:PR Newswire
Geographic Code:4E
Date:Nov 2, 2011
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