Market sources said the last step in making a manager switch final on Indosuez Capital Funding IV from Credit Agricole Indosuez to Royal Bank of Canada will require approval from the ratings agencies. "Rating agenices have stopped changes before but on this deal there's no reason it shouldn't go through," said one source close to the deal, referencing the fact that the management team at RBC was the former management team on the old deal. Officials at the rating agencies declined to comment. Sources said the ratings agencies will evaluate the management team, capital available to support the deal, and infrastructure to efficiently handle administration.
...As Rating Agencies Evaluate RBC