Credit du Maroc -- Moody's changes outlook to stable from negative on Crédit du Maroc's Baa3 local-currency deposit rating

Limassol, September 03, 2014 -- Moody's Investors Service has today affirmed the Baa3/Prime-3 local-currency deposit ratings of Crédit du Maroc (CdM) and changed the outlook on this rating to stable from negative. Moody's has left unchanged CdM's standalone bank financial strength rating (BFSR) of D-, with a stable outlook, equivalent to a baseline credit assessment (BCA) of ba3, and an adjusted BCA of ba1 (which incorporates two-notches of parental support uplift from Crédit Agricole SA). CdM's Ba2/Not-Prime foreign-currency deposit ratings also remain unchanged.

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