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Caisse Centrale de Reescompte Aug 02
Standard & Poors, Aug 2002
Abstract
The ratings on Caisse Centrale de R-escompte (CCR) reflect the bank's position as an important asset management unit of its shareholder, Commerzbank AG (A/Negative/A-1). The synergies that continue to develop between the two banks since Commerzbank's acquisition of CCR further reinforce the latter's successful integration into the group. The ratings on CCR also reflect the bank's overall sound financial performance, which continues to be characterized by consistently stable earnings, a low-risk profile, and satisfactory capital adequacy. CCR focuses its business on asset management, mainly for corporate and institutional clients, but also for private individuals. The 1993 acquisition of CCR provided Commerzbank with access to its French subsidiary's institutional and corporate client base, as well as its expertise in money-market funds,...
Companies mentioned in this report are: Caisse Centrale de Reescompte,Commerzbank AG,Commerzbank International S.A.,Commerzbank Europe (Ireland),Hypothekenbank in Essen AG,Rheinhyp Bank Europe PLC,Rheinische Hypothekenbank AG,Commerzbank International (Ireland),Erste Europaeische Pfandbrief- und Kommunalkreditbank AG
Action: Review
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Full Analysis
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