...IDRs Equalised w ith Parent's: CA Consumer Finance's (CACF) Issuer Default Ratings (IDRs) are equalised w ith those of CrTdit Agricole (CA; A+/Stable). This reflects Fitch Ratings' opinion that CACF is a key and integral part of the group as a consumer finance provider. Fitch believes there w ould be an extremely high probability that CrTdit Agricole S.A. (CA S.A.; A+/Stable), CA's listed central body and CACF's parent, and ultimately CA, w ould support CACF, if required. Key to CA's Strategy: CACF plays a strategic role w ithin CA as it is the group's main provider of consumer finance solutions. Consumer finance is a core component of CA's product offering to retail clients. CACF is part of the top three consumer finance providers in continental Europe. CACF had about EUR89 billion of gross managed loans at end-2018 and contributed to about 7% of 2018 group revenue and 8% of pre-tax profit, excluding the corporate centre. Close Integration w ith CA: CACF is fully ow ned by CA S.A, CA's...
