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Banque Federative du Credit Mutuel Oct 03
Standard & Poors, Oct 2003
Abstract
The ratings on Banque F-d-rative du Cr-dit Mutuel (BFCM) are based on its core position as the funding arm of the French retail banking group Cr-dit Mutuel Centre Est Europe (CMCEE). In Standard & Poor's view, BFCM's credit risk mirrors that of its parent, CMCEE, due to the bank's total operational integration within the CMCEE group. CMCEE is the largest of the 18 regional federations of cooperative banks that form the Cr-dit Mutuel group, of which Caisse Centrale de Cr-dit Mutuel (A+/Stable/A-1) is the central clearer. CMCEE is the strongest regional banking group in France, based on a dominant market position in its home region of Alsace-Lorraine in the eastern part of the country. CMCEE is also the main constituent...
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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