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Bulletin: BNP Paribas Ratings Unchanged Following Capital Increase And Repayment Of French Government Preferred Share Aid Sep 09
Standard & Poors, Sep 2009
Abstract
PARIS (Standard & Poor's) Sept. 29, 2009--Standard & Poor's Ratings Services said that its ratings remain unaffected on BNP Paribas (AA/Negative/A-1+) after the bank announced today that it will launch a -4.3 billion capital increase and simultaneously repay all the -5.1 billion in preferred shares the bank issued to the French government. 'We view positively this transaction that will reinforce the quality of BNP Paribas' capital base and its capital ratio, under our own measures,' said Standard & Poor's credit analyst Elisabeth Grandin. On a pro forma basis, the transaction reduces the bank's Tier 1 ratio to 9.1% from 9.3% on June 30, 2009. Over 2009, BNP Paribas' Tier 1 capital base will remain nearly stable on a pro forma...
Companies mentioned in this report are: BNP Paribas
Action: Bulletin
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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