Conservative embarrassed by one bishop the French find believable (8)
I believe the answer is:
'believable' is the definition.
'conservative embarrassed by one bishop the french' is the wordplay.
'conservative' becomes 'C' (UK political abbreviation).
'embarrassed' becomes 'red' (someone may blush or go red when embarrassed).
'by one' becomes 'i' (Roman numeral. I am not sure about the 'by' bit.).
'bishop' becomes 'B' (chess abbreviation).
'the french' becomes 'le' ('the' in French).
'find' is the link.
Can you help me to learn more?
(Other definitions for credible that I've seen before include "Seemingly worthy of belief" , "Within the bounds of belief" , "Easy to believe" , "Possible to believe" , "Capable of being believed" .)