S&P Global Ratings has announced that it has revised its outlook for CNP Assurances from stable to negative. 

This revision follows action on the French government's outlook which has implications for La Poste Group, La Banque Postale and its subsidiary CNP Assurances.

S&P said: "We view CNP Assurances as a core entity to La Poste Group and so any rating action on La Poste would affect CNP Assurances. We also believe that, over the next 12-24 months, CNP Assurances will retain its strong market position, including geographical diversification of its business footprint.”

CNP Assurances SA's rating remains unchanged:

Credit rating agencyS&P Global Ratings
Financial strength RatingA+
Tier 2 and Tier 3 Subordinated Notes RatingA-
Restricted Tier 1 Subordinated Notes RatingBBB+