Credit Suisse at big risk from Credito Real bankruptcy, El CEO reports

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A logo is pictured on the Credit Suisse bank in Geneva, Switzerland, June 9, 2022. REUTERS/Denis Balibouse

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MEXICO CITY, Aug 4 (Reuters) - Credit Suisse (CSGN.S) is among the lenders owed the most money by embattled Mexican finance company Credito Real, which has begun bankruptcy proceedings for $2.6 billion in debts, a local business newspaper reported Thursday.

Private documents show that Credit Suisse is owed over $100 million by Credito Real, according to a report from Mexican business paper El CEO. That would be the largest debt Credito Real owes to a foreign bank, the report said.

Credit Suisse declined to comment about the report.

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The news comes as media have reported that Credit Suisse was considering making sweeping cuts read more , and after Moodys rating agency downgraded the bank's unsecured debt ratings.

Mexico's national development bank, NAFIN, is owed the most of any entity, with $119 million in unpaid debts, according to El CEO. NAFIN didn't immediately respond to a request for comment.

Credito Real announced it was beginning bankruptcy proceedings in July after defaulting earlier in the year. read more

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Reporting by Isabel Woodford; Edited by Michael Williams

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