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BancWest Corp. Dec 04
Standard & Poors, Dec 2004
Abstract
BNP Paribas' parental support Strong, stable earnings Diversified business mix Stable asset quality Weakened holding company tangible capital levels Integration risk associated with acquisitions BancWest Corp.'s (BancWest) ratings incorporate the company's stand-alone financial performance as well as the support from its French parent, BNP Paribas (AA/Stable/A-1+). Standard & Poor's considers BancWest to be a strategically important subsidiary of BNP Paribas. The stand-alone assessment of BancWest's financial performance factors in the company's consistent earnings record, stable asset quality, and diversified business mix. Offsetting these strengths, BancWest's acquisition strategy introduces a modest degree of integration risk, and, more importantly, the company's holding company tangible capital levels are weak relative to those of its peers. Through a series of acquisitions, most recently the...
Companies mentioned in this report are: BancWest Corp.,BNP Paribas,BNP Paribas Canada,First Hawaiian Bank,Bank of the West,BNP Paribas Personal Finance,Pinnacle Insurance PLC,First Hawaiian Capital I,BNP U.S. Funding Ltd. Liability Co.,BancWest Capital I,Findomestic Banca SpA,BNP Paribas US Medium-Term Note Program LLC,BNP Paribas US Structured Medium-Term Note Program LLC
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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