The ratings on Banque et Caisse d'Epargne de l'Etat, Luxembourg (BCEE) are supported by its full ownership by the Grand Duchy of Luxembourg (AAA/Stable/A-1+), and public mission role of contributing to the country's economic and social development. The ratings also continue to reflect the bank's predominant position in the domestic retail market, as well as its satisfactory profitability, good asset quality, and sound capital adequacy. With total consolidated assets of €29.5 billion at Dec. 31, 2000, BCEE is a public sector institution created by law in 1856. Wholly owned by the Grand Duchy of Luxembourg, the bank retains a public mission role to promote all forms of savings, and to generally contribute to Luxembourg's social and economic development. In this
