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BNP Paribas 'AA+' Rating Put On CreditWatch Negative On Concerns Over Earnings Resilience Dec 08
Standard & Poors, Dec 2008
Abstract
PARIS (Standard & Poor's) Dec. 17, 2008--Standard & Poor's Ratings Services said today that it placed its 'AA+' long-term counterparty credit rating on France-based bank BNP Paribas on CreditWatch with negative implications. At the same time, we affirmed the 'A-1+' short-term rating. 'The CreditWatch placement follows BNP Paribas' announcement of lower than expected corporate and investment banking revenues, and reflects also the realization of some execution risk in the transaction to buy a majority stake in Fortis Bank SA/NV and Fortis Insurance Belgium,' said Standard & Poor's credit analyst Bernard de Longevialle. Standard & Poor's views BNP Paribas as having high systemic importance in France, which we classify as a supportive country under our methodology. Our credit ratings on systematically...
Companies mentioned in this report are: BNP Paribas
Action: Affirmed
Action: On CreditWatch: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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