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S&P Credit Research1088 word report
published Oct 06, 2008
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Abstract: PARIS (Standard&Poor's) Oct. 6, 2008--Standard&Poor's Ratings Services said today that it revised its outlook on French banking group BNP Paribas to negative from stable. At the same time, we affirmed our 'AA+/A-1+' long- and short-term counterparty credit ratings on the bank. "The outlook revision follows BNP Paribas' announced acquisition of the bulk of recently nationalized Belgian-Dutch banking group Fortis' operations outside the Netherlands," said Standard&Poor's credit analyst Bernard de Longevialle. BNP Paribas is buying a majority stake in Fortis' banking units in Belgium and Luxembourg, Fortis Bank SA/NV and Fortis Banque Luxembourg S.A., the Belgian insurance division, and the group's international banking franchises, for a total share-and-cash deal of €14.5 billion. The group will
Brief Excerpt: RESEARCH Ratings Definitions BNP Paribas Outlook To Negative On aé¼14.5 Bil Fortis Acquisition; '##+/A-1+' Ratings Affirmed Publication date: 06-Oct-2008 Primary Credit Analyst: Bernard de Longevialle, Paris (33) 1-4420-7334; bernard_delongevialle@stand...
Report Type: News
Ticker: BNP@FPIssuer: BNP ParibasGICS: Diversified Banks (40101010)Sector: Global Issuers, Public Finance, Structured FinanceCountry: FranceRegion: United StatesFree Sample: Click
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S&P Credit ResearchS&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.
