Announcements

    Drinks

      MONDAY, 03/07/2023 - Scope Ratings GmbH
      Download PDF

      Updated issuer rating report on Crédit Foncier de France

      Scope Ratings has updated its issuer rating report on Crédit Foncier de France.

      The ratings of Crédit Foncier de France (CFF) and its wholly owned subsidiary Compagnie de Financement Foncier (CieFF) reflect the credit quality of CFF’s parent, BPCE S.A.

      CFF and CieFF benefit from the strong internal solidarity system within Groupe BPCE. It underpins our expectation of full parental group support. Any change in the credit quality of BPCE S.A. entails a similar rating impact for CFF and CieFF.

      The strategic relevance of CFF within Groupe BPCE stems primarily from its refinancing role as active issuer of covered bonds for the benefit of the group’s funding diversification. Following a strategic review in 2019, ancillary activities previously performed by CFF were put in run-off. As a result, CFF and CieFF’s balance sheets continue to converge. Risk management is fully aligned with Groupe BPCE’s framework, allowing creditors of CFF and CieFF to benefit from the group’s strong risk control culture.

      This monitoring note does not constitute a rating action, nor does it indicate the likelihood of a credit rating action in the short term. The latest information on the credit ratings in this monitoring note along with the associated rating history can be found on www.scoperatings.com.

      Click here to access the full report.

      Related news

      Show all
      UK banks quarterly: credit fundamentals still resilient but moderating

      2/6/2025 Research

      UK banks quarterly: credit fundamentals still resilient but ...

      Scope affirms IBL Banca’s BBB issuer rating with Stable Outlook

      30/5/2025 Rating announcement

      Scope affirms IBL Banca’s BBB issuer rating with Stable Outlook

      UniCredit: Large M&A setbacks will not curb strategic ambition

      30/5/2025 Research

      UniCredit: Large M&A setbacks will not curb strategic ambition

      Scope affirms JSC Silk Bank ‘B-’ issuer rating with Stable Outlook

      28/5/2025 Rating announcement

      Scope affirms JSC Silk Bank ‘B-’ issuer rating with Stable ...

      Scope puts Brage Finans’ ratings under review for upgrade

      28/5/2025 Rating announcement

      Scope puts Brage Finans’ ratings under review for upgrade

      Scope affirms Danske Bank’s issuer rating at A+ and assigns Positive Outlook

      27/5/2025 Rating announcement

      Scope affirms Danske Bank’s issuer rating at A+ and assigns ...