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BancWest Corp. & Units Upgraded, Off CreditWatch After Acquisition by BNP Paribas Dec 01
Standard & Poors, Dec 2001
Abstract
NEW YORK (Standard & Poor's) Dec. 21, 2001--Standard & Poor's today raised its ratings on BancWest Corp. and its units following the company's acquisition by BNP PARIBAS (AA-/A-1+). BancWest Corp.'s counterparty credit ratings were raised to single-'A'-plus/'A-1' from triple-'B'-plus/'A-2' and those of its two banking subsidiaries, Bank of the West and First Hawaiian Bank, were raised to single-'A'-plus/'A-1' (see list below). At the same time, the bank and its subsidiaries have been removed from CreditWatch, where they were placed on May 7, 2001. Paris-based BNP Paribas has completed the purchase of the remaining 55% of BancWest Corp. stock that it had not already owned. The outlook for all three entities is stable. The higher ratings on BancWest Corp. and its...
Companies mentioned in this report are: BancWest Corp.,BNP Paribas,First Hawaiian Bank,Bank of the West
Action: Upgraded, Off CreditWatch
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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