French bank Credit Agricole marked one of the worst performances within the blue-chip index CAC 40 yesterday as its shares declined 1.75% to EUR 11.78 at close.
The lender was once again affected by its exposure to Greece, where it is present via its unit Emporiki Bank, as Moody's lowered its credit rating on Greece.
Moody's downgraded the rating on Greece to B1 from Ba1, taking into account potential risks about the budget reforms in the country.
The credit rating agency added that the outlook on Greece remains negative which means that a new downgrade of the rating is possible in the next 18 months.
