...IDRs Equalised With Parent's: CA Consumer Finance's (CACF) IDRs are equalised with those of its ultimate parent, Credit Agricole (CA; A/Stable), reflecting Fitch Ratings' opinion that CACF is a core subsidiary of CA. Fitch believes there would be an extremely high probability that CACF would be supported by CA, if required. Core Subsidiary of CA: Fitch views CACF as a core subsidiary given its full ownership by CA, its integration with CA and its strategic role as CA's consumer finance arm. CACF is a leader in consumer finance in Europe and the number two in France (15% market share). It is a key component of CA's offering of specialised financial services to clients. Strong Integration With CA: CACF is fully owned by Credit Agricole S.A. (CA S.A.; A/Stable), CA's listed central body, and any sale is very hard to conceive. CA oversees CACF's risk management, internal control and audit functions. CA also provides the majority of CACF's funding. CA uses CACF's expertise for its French, Italian,...
