Moody's Credit Agency downgrades BMCE and Credit du Maroc
American credit rating agency Moody's Corporation gave its analysis of the situation of the two banks Moroccan BMCE and its owner, billionaire Moroccan Othman Benjeloun and Credit du Maroc, Moroccan subsidiary of the French bank Crédit Agricole .
Source : https://www.marocafrik.com/english/Moody-s-Credit-...
In assessing the risk and the investment value of the two banks, Moody's downgraded the credit to BMCE and Morocco to Baa3 rating with a negative outlook.
Both Moroccan banks, says Moody's, had increased the weight of bad loans in their loan portfolios, while not having enough capital.
BMCE extended investment in Sub Saharan Africa increased risk and it underwent a decrease in deposit collection.
Credit Morocco meanwhile, was diagnosed with a weakening of its autonomy.
Both Moroccan banks, says Moody's, had increased the weight of bad loans in their loan portfolios, while not having enough capital.
BMCE extended investment in Sub Saharan Africa increased risk and it underwent a decrease in deposit collection.
Credit Morocco meanwhile, was diagnosed with a weakening of its autonomy.
Source : https://www.marocafrik.com/english/Moody-s-Credit-...