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France to rescue mortgage lender CIF: paper

Posted on 03 September 2012

France’s government plans to intervene to rescue Credit Immobilier de France after the struggling mortgage lender was hit by a liquidity crisis following a recent downgrade by credit rating agency Moody’s, Le Figaro newspaper reported on Saturday.
CIF’s board met on Friday night and formally demanded government help, the newspaper said, without naming its sources. The lender, which has about 300 branches throughout France, did not immediately return a phone call seeking comment. The government was not immediately available for comment………………………………………..Full Article: Source


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