In the context of Scope Ratings’ strategy of focussing on the needs of institutional investors, Scope will offer its unsolicited bank and covered bond credit ratings on a subscription basis only via its credit intelligence platform.

Scope Ratings has updated its rating report on Banque Fédérative du Crédit Mutuel SA, rated A+ with Stable Outlook.

Scope Ratings’ action takes account of the likely implications of Credit Mutuel Arkéa leaving the Credit Mutuel Group.

Rating upgrade reflects Scope’s view of these banks’ reassuring liquidity dynamics, positively impacted by European supervisors’ enhanced focus on bank liquidity and funding.

Scope Ratings assigns an Issuer Rating of A+ and a short-term debt rating of S-1 to Banque Fédérative du Crédit Mutuel SA (BFCM), both with Stable Outlook.

Aggregate amount of Tier 2 securities rated is equivalent to nearly EUR 40bn; all rated securities were issued publicly in 2015-2016 by banks already rated by Scope and qualify as Tier 2 capital under CRD IV-CRR.

Scope Ratings has updated its rating report on Banque Federative due Credit Mutuel SA, rated A with Stable Outlook.

Ratings apply to existing commercial paper and certificate of deposit programmes; these banks already carry short-term ratings from Scope. Aggregate amount of rated programmes is equivalent to over EUR 820bn.

No mechanistic correlation between short-term and long-term ratings

Scope Ratings today has assigned long-term ratings of A to Banque Fédérative du Crédit Mutuel SA (BFCM), with a stable outlook.