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BNP Paribas Feb 09
Standard & Poors, Feb 2009
Abstract
Extremely strong and highly diversified business profile Diversified earnings stream and good cost management Stable management team Moderate risk appetite, strong risk culture, and overall satisfactory asset quality Large capital market activities, including sizable portfolio of relatively illiquid and complex trading instruments Large international loan book that entails significant credit risk exposure to the global economic downturn Exposure to stock market fluctuations, through the large equity portfolio The ratings on French banking group BNP Paribas reflect its strong and highly diversified business profile; sound financial position, characterized by contained risk, satisfactory profitability, adequate capitalization, and satisfactory financial flexibility; good management; and moderate risk appetite. Standard & Poor's Ratings Services views BNP Paribas as having high systemic importance in France, which...
Action: Review
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Full Analysis
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