Business Services Industry
FRANCE: MOODY'S ASSIGNS POSITIVE OUTLOOKS TO BFCM'S AND CIC'S RATINGS.
IPR Strategic Business Information Database, July, 2007
Moody's announced today that it has assigned positive outlooks to the Bank Financial Strength Rating (BFSR) and Long-Term debt and deposit ratings of BFCM and to CIC's BFSR. Both BFCM and CIC are members of Credit Mutuel Centre Est Europe Group (CMCEE). Moody's notes that the financial fundamentals of CMCEE and both of its subsidiaries, BFCM and CIC, have improved in 2006 and in early 2007.
The most significant improvements included profitability and asset quality, but also CIC's capital adequacy. At the same time, the group is making efforts towards a better restructuring of its risk management functions and risk control processes. It is Moody's understanding that the group has decided to create a "Chief Risk Officer" position ("Directeur des Risques")...
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