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Fitch withdraws 3 BPCE French units' ratings on merger with other group members

Fitch Ratings on Dec. 13 withdrew the ratings of Banque Populaire Loire et Lyonnais, Banque Populaire du Massif Central and Banque Populaire Côte d'Azur, following their merger into other Groupe BPCE members.

According to the release, Banque Populaire Loire et Lyonnais and Banque Populaire du Massif Central merged into Banque Populaire des Alpes on Dec. 7, following which it was renamed Banque Populaire Auvergne Rhone Alpes. Banque Populaire Côte d'Azur merged into Banque Populaire Provencale et Corse on Nov. 22, with the entity subsequently renamed Banque Populaire Méditerranée.

Fitch said the A/F1 long- and short-term issuer default ratings of the three French Groupe BPCE units were withdrawn since they no longer exist as separate entities.