| Title: | Credit Municipal de Paris |
| Price: | $400.00 |
| Publication Date: | Apr 29, 2008 |
| Report Type: | Full Report |
| Abstract: | Implicit support from the City of Paris Refocused and coherent strategy Small niche business position Lack of commercial efficiency and partnership with La Banque Postale still at a test stage Lowered lending activity of subsidiary CMP-Banque hampering revenues Very weak profitability with still moderate operating efficiency Higher-than-average credit risk The ratings on pawnbroker Crédit Municipal de Paris (CMP; A+/Stable/A-1) and 100% consumer finance subsidiary CMP-Banque (A+/Stable/A-1) reflect the entities' close control and supervision by the City of Paris (AAA/Stable/--), and resulting implicit support from the latter. CMP's public entity status grants it an ultimate--though not timely--guarantee from the city. Therefore Standard&Poor's Ratings Services believes that CMP-Banque's core role within the CMP group ensures it equivalent implicit support. Another |
| Ticker: | 225218Z@FP |
| Issuer: | Credit Municipal de Paris |
| GICS: | Consumer Finance (40202010) |
| Sector: | Global Issuers, Financial Institutions |
| Country: | France |
| Region: | Europe, Middle East, Africa |
| Format: | 
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