Research Update: L-T Rating On France-Based BNP Paribas Raised To 'AA+' On Improved Profile; Outlook Stable Jul 07

Standard & Poors, July 2007

Abstract
On July 10, 2007, Standard & Poor's Ratings Services raised its long-term counterparty credit rating on French bank BNP Paribas to 'AA+' from 'AA', reflecting the group's increased internationalization, strong profitability measures, and earnings generation capacity. At the same time, Standard & Poor's affirmed its 'A-1+' short-term counterparty credit rating on the bank. The outlook is stable. BNP Paribas boasts superior diversification, as well as strong and durable franchises in each of its key business lines. The group's diversification, both by business line and geographically, is a key rating strength. The acquisition of Italy-based Banca Nazionale del Lavoro SpA (BNL; AA-/Positive/A-1+) in 2006 is a good evidence of the bank's ability to quickly seize growth opportunities. The integration of BNL...

Companies mentioned in this report are:
- BNP Paribas
- Banca Nazionale del Lavoro SpA (former)

Action: Outlook: Stable
Action: Upgraded

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.

Product Type: Research Update
Research updates complement media releases. They offer more depth and detail than summary analyses by incorporating all information published in the media release. They are more up to date than summaries in that they are published simultaneously with media releases.

- BNP Paribas
- Banca Nazionale del Lavoro SpA (former)

Customers who bought this item also bought

• Aerospace & Defense in Italy
• Aerospace & Defense in Italy
• Aerospace & Defense in Europe
• Defense Spending - Global Group of Eight (G8) Industry Guide
• Analyzing the Global Aerospace and Defense Industry
• Defense Spending: Global Industry Guide
• Aerospace and Defense Industry - Global Strategic Business Report
• The European Aerospace & Defense Industry
• The Italy Defense Industry - Market Attractiveness and Emerging Opportunities to 2017: Market Profile
• Defense Spending in Italy