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BancWest Corp. Apr 10
Standard & Poors, April 2010
Abstract
Implicit support as a strategically important subsidiary of its parent, BNP Paribas A diversified loan portfolio Weak tangible capital at BancWest Corp., as an intermediate holding company High nonperforming assets and pressures on asset quality Geographic concentration in California and Hawaii Standard & Poor's Ratings Services' rating on BancWest Corp. (BWE) reflects the implicit support the company receives as a strategically important and wholly-owned subsidiary of its parent, BNP Paribas (AA/Negative/A-1+); a diversified loan portfolio; and BWE's historically adequate stand-alone financial profile. These rating strengths are offset by weak tangible capital at BWE, high nonperforming assets (NPAs), pressures on the bank's asset quality generally, and its geographic concentration in California and Hawaii. However, we recognize that capital at both banking...
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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