Credit Suisse at big risk from Credito Real bankruptcy – media

MEXICO CITY (Reuters) -Credit score Suisse is among the many lenders owed essentially the most cash by embattled Mexican finance firm Credito Actual, which has begun chapter proceedings for $2.6 billion in money owed, an area enterprise newspaper reported Thursday.

Personal paperwork present that Credit score Suisse is owed over $100 million by Credito Actual, in keeping with a report from Mexican enterprise paper El CEO. That may be the most important debt Credito Actual owes to a international financial institution, the report mentioned.

Credit score Suisse declined to remark concerning the report.

The information comes as media have reported that Credit score Suisse was contemplating making sweeping cuts, and after Moodys score company downgraded the financial institution’s unsecured debt rankings.

Mexico’s nationwide improvement financial institution, NAFIN, is owed essentially the most of any entity, with $119 million in unpaid money owed, in keeping with El CEO. NAFIN did not instantly reply to a request for remark.

Credito Actual introduced it was starting chapter proceedings in July after defaulting earlier within the 12 months.

(Reporting by Isabel Woodford; Edited by Michael Williams)