A Mexican bank that has entered bankruptcy proceedings is said to owe Credit Suisse over $100 million.
Credito Real, a finance company in Mexico that has started bankruptcy proceedings on some $2.6 billion in debts, is said to owe Credit Suisse over $100 million, according to a report from «Reuters» which cited a report from the Mexican business publication «El ECO» (in Spanish).
Private documents showed that Credit Suisse was owed $106 million, making it the largest debt owed to a foreign institution by Credito Real, which announced it began bankruptcy proceedings in July after defaulting earlier in the year, according to the report.
Presumably, the debt owed to Credit Suisse is less than $119 million, which is the amount owed to Mexico's national development bank, NAFIN, said to be the largest amount owed to any entity by Credito Real, according to El CEO.
The news comes after a third major US rating agency downgraded Credit Suisse, as reported by finews.com, and a «Bloomberg» (behind paywall) report that the Swiss bank was considering major job cuts over the coming years.
Both Credit Suisse and NAFIN didn't immediately respond to a request for comment, according to «Reuters.»
