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Summary: Banque Federative du Credit Mutuel Feb 03

  • ID: 2046528
  • February 2003
  • Standard & Poors

Abstract
The ratings on Banque Fédérative du Crédit Mutuel (BFCM) are based on its membership in the French Crédit Mutuel retail-banking group, whose constituent cooperative entities are rated A+/Stable/A-1. In Standard & Poor's view, BFCM's credit risk mirrors that of its parent, regional federation Crédit Mutuel Centre Est Europe (CMCEE) due to BFCM's total operational integration within the CMCEE group, for which it primarily acts as central clearer. CMCEE's creditworthiness is tied to the overall credit assessment of the Crédit Mutuel group, whose legal status and internal system of solidarity empower its central body, Confédération Nationale de Crédit Mutuel, to take any steps necessary to ensure the liquidity and solvency of each member cooperative bank. On a stand-alone basis, CMCEE is...

Companies mentioned in this report are:
- Banque Federative du Credit Mutuel

Action: Review

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- Banque Federative du Credit Mutuel

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