Moody's broadens Credit du Maroc review

Moody's Investors Service said it broadened its review for downgrade of Credit du Maroc to cover the bank's D standalone bank financial strength rating that maps to Ba2 standalone credit assessment.

Credit du Maroc's Baa2/Prime-2 long- and short-term local-currency deposit ratings were placed under review for downgrade on Dec. 15.

The review on the deposit ratings was announced following a similar action on the ratings of the parent group, Credit Agricole SA, with a focus on the parental support assumption imbedded in the local-currency deposit ratings of the Moroccan bank.

Credit du Maroc's lower long- and short-term foreign-currency ratings of Ba2/Not-Prime are capped by the country's foreign-currency deposit ceiling and are not under review.

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