...IDRs Equalised With Parent's: CrTdit Foncier de France's (CFF) Issuer Default Ratings (IDRs) are aligned with those of its 100% shareholder, Groupe BPCE (GBPCE; A/Stable), as it is part of GBPCE's cross-support mechanism according to the French Financial and Monetary Code. Fitch Ratings considers it extremely likely that GBPCE would support CFF, if required. GBPCE's Commitment to Support: BPCE S.A, GBPCE's central body, is responsible for ensuring that CFF meets liquidity and solvency requirements at any time, according to the French Financial and Monetary Code. The central body has access to the resources of all group entities that are part of the cross-support mechanism to do this. Strong Integration With GBPCE: CFF's strategy, risk policies, internal control and audit functions are overseen by BPCE S.A. CFF has a strategic role within the group as a specialist in real estate financing and a leader in social housing loans in France, enabling GBPCE to develop some synergies within the...
