Credit Suisse says it has no big exposure to Mexico's Credito Real

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Mexican newspaper El CEO citing documents said Credit Suisse is owed over $100 million by Credito Real, which has begun bankruptcy proceedings over $2.6 billion in debts.

That is the largest debt Credito Real owes to a foreign bank, the newspaper reported.

“Credit Suisse has no material exposure to the company in question,” a spokesperson told Reuters on Saturday.

“Any suggestion otherwise is unfounded.”

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