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BRIEF-Fitch downgrades Credit Suisse Group to 'A'
May 24, 2016 / 8:26 PM / 2 years ago

BRIEF-Fitch downgrades Credit Suisse Group to 'A'

May 24 (Reuters) - Fitch

* Fitch downgrades Credit Suisse Group to ‘A’; affirms Credit Suisse ag

* Fitch - Outlook on Credit Suisse’s long-term IDR has been revised to stable from positive

* Fitch - Downgrade reflects vulnerabilities in business model to challenging capital markets

* Fitch - Expect execution of strategic restructuring to remain more challenged

* Fitch - Slowdown in Asia pacific economic growth will also add negative pressure to targeted business model

* Fitch - VR reflects view that risk controls are sound, despite publicity around poorly communicated distressed debt positions

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