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Caisse Centrale de Reescompte Aug 03
Standard & Poors, Aug 2003
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-2). CCR's successful integration into the Commerzbank group has been reinforced by the continued development of synergies between the two banks. The ratings on CCR also reflect the bank's overall sound financial performance, which continues to be characterized by a low-risk profile, consistent stability in earnings, and sound capital adequacy. CCR continues to focus its activities on asset management, mainly for corporate and institutional clients, but also for private individuals. The 1993 acquisition of CCR by Commerzbank provided the latter with access to CCR's institutional and corporate client base, as well as its money-market funds expertise. In this...
Companies mentioned in this report are: Caisse Centrale de Reescompte,Commerzbank 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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