Banque Centrale Populaire – FCRs and BSR Lowered

Banque Centrale Populaire – FCRs and BSR Lowered

Capital Intelligence Ratings (CI Ratings or CI) today announced that it has lowered the L ong- T erm F oreign C urrency R ating (LT FCR) and Short- T erm F oreign C urrency R ating ( ST FCR ) of Ban que Centrale Populaire (B CP ) to ‘BB+’ and ‘B’ , respectively, from ‘BBB-’ and ‘A3’. At the same time, CI Ratings has also downgraded B CP ’s Bank Standalone Rating ( BSR ) to ‘bb’ from ‘bb+’ , and affirmed the Core Financial Strength ( CFS ) rating at ‘bb+’. The Outlook for the LT FCR and BSR remains Stable.

BCP Group is a cooperative type banking organisation, with cross shareholdings within the principal body of BCP and regional banks. The major part of the Group consists of BCP and eight member banks, or Banques Populaires Regionales. BCP (wh ich is the legal entity of the G roup) plays a central role in the…