Moody’s gives CFFL top rating

Moody’s has upgraded Caisse Francaise de Financement Local’s covered bonds to Aaa from Aa2, following a similar move by Standard & Poor’s. The upgrade came after all three major rating agencies rated CFFL’s holding company, Société de Financement Local (SFIL) double-A. CFFL’s previous owner Dexia Credit Local was rated Baa2.