15.01.2014 18:24:00
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Capital Desjardins Inc. -- Moody's affirms Caisse centrale Desjardins at Aa2; outlook stable
Toronto, January 15, 2014 -- Moody's Investors Service has affirmed the ratings of Caisse centrale Desjardins (CcD), (Aa2 for long-term deposits and bank financial strength rating/baseline credit assessment of C/a3) following the announcement that Desjardins Group (Desjardins) will acquire State Farm's Canadian businesses, including property and casualty and life insurance operations (State Farm). CcD acts as the treasury entity for Desjardins, the Quebec-based financial services cooperative and its strong ratings reflect the benefits its creditors derive from Desjardins' exceptional retail franchise.