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Caisse Centrale du Credit Mutuel Nov 11
Standard & Poors, Nov 2011
Abstract
Strong franchise in French retail banking and insurance. Favorable risk-adjusted capitalization. Satisfactory risk profile, due to primary focus on retail banking activities in France. Highly systemically important in France, which we classify as a supportive country under our methodology. Moderate growth potential in the French domestic banking market. Deteriorating operating environment and increasingly difficult market conditions for funding. Diversification benefits from development in consumer financing activities have yet to be proven. Some individual member banks that have weaker stand-alone positions than others within the group. The ratings on France's Caisse Centrale du Credit Mutuel (CCCM) and related entities are based on Standard & Poor's Ratings Services' analysis of the Groupe Cr-dit Mutuel (GCM). GCM comprises 18 regional Cr-dit Mutuel cooperative...
Companies mentioned in this report are: Caisse Centrale du Credit Mutuel,Credit Industriel et Commercial,Caisse centrale Desjardins,Greece (Hellenic Republic),Banque Federative du Credit Mutuel,Cofidis S.A.,Credit Mutuel Arkea,Caisse Federale de Credit Mutuel d'Anjou,Caisse Federale du Credit Mutuel Ocean,Caisse Federale du Credit Mutuel Nord Europe,Caisse Federale du Credit Mutuel Antilles-Guyane,Caisse Federale du Credit Mutuel de Maine-Anjou Basse Normandie,Credit Foncier et Communal d'Alsace et de Lorraine-Banque,Banco Popular Espanol S.A.,European Central Bank (Unsolicited Ratings),Credit Foncier et Communal d'Alsace et de Lorraine - Societe de Credit Foncier,Credit Mutuel-CIC Home Loan SFH,Credit Mutuel Arkea Public Sector SCF
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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