Caffil counts cost despite court ruling in its favour
The former Dexia Municipal Agency, now Caisse Française de Financement Local (Caffil), is considering whether to appeal against a French court judgement over three structured loans it made to a local authority.
With as many as 10bn of similar loans in its 70bn collateral pool, the market is watching developments closely.
The interest rate on Dexias structured municipal loan to the Department of Seine-Saint-Denis was set to rise to around 9% but, following the ruling from the Superior Court of Nanterre
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