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BancWest Corp. Ratings Lowered To 'A+/A-1' From 'AA-/A-1+'; Outlook Negative Apr 10
Standard & Poors, April 2010
Abstract
We believe that BWE's higher nonperforming assets and pressure on asset quality is likely to have a further negative impact on earnings. We have lowered our counterparty credit rating on BancWest Corp. to 'A+/A-1' from 'AA-/A-1+' with a negative outlook. Asset quality pressure will persist during 2010, limiting earnings potential. NEW YORK (Standard & Poor's) April 15, 2010--Standard & Poor's Ratings Services revised its counterparty credit ratings on BancWest Corp. (BWE) to 'A+/A-1' from 'AA-/A-1+'. The outlook is negative. The ratings reflect our view of BWE as a strategically important, wholly owned subsidiary of BNP Paribas. Our internal designation of BWE as a strategically important subsidiary warrants four notches of support above BWE's stand-alone credit profile rating. 'Our analysis of...
Companies mentioned in this report are: BancWest Corp.,BNP Paribas
Action: Downgraded
Action: Outlook: Negative
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: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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