(Bloomberg) -- Credit Suisse’s surviving entities were upgraded by S&P Global Ratings after UBS Group AG announced details of the integration of the former rival it acquired in an emergency takeover in March.

“The rating actions follow UBS Group’s recent disclosures regarding the restructuring and integration of Credit Suisse’s operations,” the US rating company said in a statement on Thursday. “We now see Credit Suisse’s European and U.S. operating companies as core to UBS Group’s operations and expect them to be supported in any foreseeable circumstances. The outlooks on these entities are stable.”

S&P raised its long-term issuer credit rating on Credit Suisse’s operating companies to ‘A+’ from ‘A.’ It also affirmed its ‘A+/A-1’ credit ratings on all UBS entities.

Back in November, S&P cut Credit Suisse’s rating to one step above junk status amid worries about the Swiss bank’s efforts to get back on solid ground after a series of scandals and losses.

UBS last week outlined major targets for its integration of Credit Suisse, as it posted the biggest ever quarterly profit for a bank on the back of the bargain acquisition.

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