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S&P Credit Research590 word report
published Jul 31, 2009
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S&P Credit Research
| Abstract: | NEW YORK (Standard&Poor's) July 31, 2009--Standard&Poor's Ratings Services today affirmed its ratings on five bond issues supported by BNP Paribas's letters of credit (LOCs) and removed the ratings from CreditWatch with positive implications, where they were placed April 22, 2009 (see list). The rating actions reflect our assessment that the bonds are not eligible for the application of our revised joint-support criteria (see "Joint-Support Criteria Update," published April 22, 2009, on RatingsDirect). Therefore, our ratings on the bonds are based solely on the credit and liquidity support that BNP Paribas ('AA/A-1+') provides in the form of LOCs, which provide for the full and timely payment of interest, principal, and the purchase price upon a tender according
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| Brief Excerpt: | RESEARCH Ratings Definitions Ratings On Five Bond Issues Supported By BNP Paribas LOCs Affirmed And Removed From CreditWatch Positive Publication date: 31-Jul-2009 Primary Credit Analyst: Alexander Gombach, New York (1) 212-438-2882;...
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| Report Type: | Ratings Action
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| Ticker: | BNP@FP
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| Issuer: | BNP Paribas
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| GICS: | Diversified Banks (40101010)
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| Sector: | Global Issuers, Public Finance, Structured Finance
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| Country: | France
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| Region: | United States
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| Free Sample: |
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S&P Credit Research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.
Also from S&P Credit Research
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- Ratings On 21 BNP Paribas LOC-Supported Bonds Lowered; One Rating Put On CreditWatch Negative $100.00
NEW YORK (Standard&Poor's) Jan. 30, 2009--Standard&Poor's Ratings Services today lowered its ratings on 21 BNP Paribas letter of credit (LOC)-supported bond issues and removed the ratings from CreditWatch with negative implications, where they ...
- BNP Paribas Long-Term Rating Lowered To 'AA'; 'A-1+' Short-Term Rating Affirmed; Outlook Negative $100.00
PARIS (Standard&Poor's) Jan. 28, 2009--Standard&Poor's Ratings Services said today that it lowered its long-term counterparty credit rating on France-based bank BNP Paribas to 'AA' from 'AA+' and removed it from CreditWatch, where it had been ...
