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BULLETIN: BNP Paribas Acquires French Government's 10.9 % Stake in Crédit Lyonnais Nov 02 Product Image

BULLETIN: BNP Paribas Acquires French Government's 10.9 % Stake in Crédit Lyonnais Nov 02

  • ID: 1827206
  • November 2002
  • Region: France
  • Standard & Poors

FEATURED COMPANIES

  • BNP Paribas
  • Credit Lyonnais
  • MORE

Abstract
Standard & Poor's Ratings Services said today that BNP Paribas' (AA-/Stable/A-1+) decision to acquire the French government's 10.9% stake in Crédit Lyonnais (A/Stable/A-1) will have no impact on the ratings and outlooks on both banks. Although BNP Paribas offered a high price of €2.2 billion for the stake, the investment will not materially affect the group's financial profile. Given the uncertainties of future developments, however, the potential credit impact of further changes in Crédit Lyonnais's ownership are not factored into the ratings or outlooks on either bank. This transaction is subject to regulatory approval. ANALYST E-MAIL ADDRESSES sylvie_dalmaz@standardandpoors.com yves_burger@standardandpoors.com FIG_Europe@standardandpoors.com...

Companies mentioned in this report are:
- BNP Paribas
- Credit Lyonnais

Action: S&P Event

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Research type: News
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