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BULLETIN: BNP Paribas Acquires French Government's 10.9 % Stake in Cr?dit Lyonnais Nov 02
Standard & Poors, Nov 2002
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 Cr-dit 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 Cr-dit 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
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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