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Viewing report
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Banque Federative du Credit Mutuel Feb 03
Standard & Poors, Feb 2003
Abstract
The ratings on Banque F-d-rative du Cr-dit Mutuel (BFCM) are based on its membership in the French Cr-dit 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 Cr-dit 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 Cr-dit Mutuel group, whose legal status and internal system of solidarity empower its central body, Conf-d-ration Nationale de Cr-dit Mutuel, to take any steps necessary to ensure the liquidity and solvency of each member cooperative bank. On a stand-alone basis, CMCEE is...
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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