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S&P Credit Research1582 word report
published Jan 28, 2009
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S&P Credit Research
| Abstract: | On Jan. 28, 2009, Standard&Poor's Ratings Services 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 placed with negative implications on Dec. 17, 2008. At the same time, we affirmed the 'A-1+' short-term rating on the bank. The outlook is negative. The rating action reflects the material negative impact on BNP Paribas' financial profile of the current market dislocation and rapidly deteriorating global economic cycle. We expect a significant decline in profitability, with net income dropping from more than €7 billion in 2007 to a moderate €3 billion at year-end 2008, with limited recovery prospects in 2009. The group should, however, continue to
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| Brief Excerpt: | RESEARCH Ratings Definitions Research Update: BNP Paribas Long-Term Rating Lowered To '##'; 'A-1+' Short-Term Rating Affirmed; Outlook Negative Publication date: 28-Jan-2009 Primary Credit Analyst: Bernard de Longevialle, Paris (33)...
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| Report Type: | Research Update
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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
- Bulletin: BNP Paribas Ratings Unchanged Following Capital Increase And Repayment Of French Government Preferred Share Aid $100.00
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 ...
- Summary: BNP Paribas $175.00
The ratings on French banking group BNP Paribas reflect its strong and highly diversified business profile, sound financial position, good management, and moderate risk appetite. The ratings are constrained by the group's very large credit ...
- Ratings On Five Bond Issues Supported By BNP Paribas LOCs Affirmed And Removed From CreditWatch Positive $100.00
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, ...
- Ratings Assigned To First Issuance Under BNP Paribas Public Sector SCF Covered Bond Program $100.00
LONDON (Standard&Poor's) June 16, 2009--Standard&Poor's Ratings Services has assigned a 'AAA' credit rating to the first issuance of €1 billion fixed-rate Obligations Foncières (OFs) (French covered bonds) to be issued by BNP Paribas Public ...
- Summary: BNP Paribas $175.00
The ratings on French banking group BNP Paribas reflect its strong and highly diversified business profile, sound financial position--characterized by contained risk, satisfactory profitability, adequate capitalization, and satisfactory financial ...
- BNP Paribas $400.00
Extremely strong and highly diversified business profile Diversified earnings stream and good cost management Stable management team Moderate risk appetite, strong risk culture, and overall satisfactory asset quality Large capital market activities, ...
- Summary: BNP Paribas $175.00
The ratings on French banking group BNP Paribas reflect its strong and highly diversified business profile; sound financial position, characterized by contained risk, satisfactory profitability, adequate capitalization, and satisfactory financial ...
- 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 ...
