S&P Global Ratings on Feb. 22 assigned J.P. Morgan Bank Luxembourg SA A+/A-1 long- and short-term issuer credit ratings, with a stable outlook.

The ratings reflect S&P's position that the company, being a core unit of JPMorgan Chase & Co., is integral to its parent's corporate and investment banking strategy in Europe.

The stable outlook reflects that on JPMorgan and its other core operating entities and reflects the rating agency's view that J.P. Morgan Bank Luxembourg will remain a core subsidiary over the next 18 to 24 months.

S&P Global Ratings and S&P Global Market Intelligence are owned by S&P Global Inc.