BNP Paribas Fortis Mortgage Covered Bonds 'AAA' Ratings Affirmed Following New Criteria Application; Outlook Stable - S&P Global Ratings’ Credit Research

BNP Paribas Fortis Mortgage Covered Bonds 'AAA' Ratings Affirmed Following New Criteria Application; Outlook Stable

BNP Paribas Fortis Mortgage Covered Bonds 'AAA' Ratings Affirmed Following New Criteria Application; Outlook Stable - S&P Global Ratings’ Credit Research
BNP Paribas Fortis Mortgage Covered Bonds 'AAA' Ratings Affirmed Following New Criteria Application; Outlook Stable
Published Mar 24, 2017
4 pages (1675 words) — Published Mar 24, 2017
Price US$ 150.00  |  Buy this Report Now

About This Report

  
Abstract:

OVERVIEW We have reviewed BNP Paribas Fortis SA/NV's mortgage covered bond program and related issuances, following a second issuance out of the program, under our covered bonds criteria and our new criteria for assessing pools of Belgian residential loans. The program's available credit enhancement exceeds the required credit enhancement for our ratings and there are no other factors constraining our ratings. We have therefore affirmed our 'AAA' ratings on the program and its related issuances. The stable outlook reflects two unused notches of uplift from the issuer credit rating on BNP Paribas Fortis. LONDON (S&P Global Ratings) March 24, 2017--S&P Global Ratings today affirmed its 'AAA' credit ratings on BNP Paribas Fortis SA/NV's mortgage covered bond program and related issuances,

  
Brief Excerpt:

...OVERVIEW + We have reviewed BNP Paribas Fortis SA/NV's mortgage covered bond program and related issuances, following a second issuance out of the program, under our covered bonds criteria and our new criteria for assessing pools of Belgian residential loans. + The program's available credit enhancement exceeds the required credit enhancement for our ratings and there are no other factors constraining our ratings. + We have therefore affirmed our '###' ratings on the program and its related issuances. + The stable outlook reflects two unused notches of uplift from the issuer credit rating on BNP Paribas Fortis. LONDON (S&P Global Ratings) March 24, 2017--S&P Global Ratings today affirmed its '###' credit ratings on BNP Paribas Fortis SA/NV's mortgage covered bond program and related issuances, following a second 500 million issuance out of the program. The outlook on our ratings is stable. Our ratings reflect our review of the program under our covered bonds criteria and our new criteria...

  
Report Type:

Ratings Action

Ticker
FBAVP@BB
Issuer
BNP Paribas Fortis SA/NV
GICS
Diversified Banks (40101010)
Sector
Global Issuers, Public Finance, Structured Finance
Country
Belgium
Region
United States
Format:
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "BNP Paribas Fortis Mortgage Covered Bonds 'AAA' Ratings Affirmed Following New Criteria Application; Outlook Stable" Mar 24, 2017. Alacra Store. May 03, 2025. <http://www.alacrastore.com/s-and-p-credit-research/BNP-Paribas-Fortis-Mortgage-Covered-Bonds-AAA-Ratings-Affirmed-Following-New-Criteria-Application-Outlook-Stable-1820739>
  
APA:
S&P Global Ratings’ Credit Research. (). BNP Paribas Fortis Mortgage Covered Bonds 'AAA' Ratings Affirmed Following New Criteria Application; Outlook Stable Mar 24, 2017. New York, NY: Alacra Store. Retrieved May 03, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/BNP-Paribas-Fortis-Mortgage-Covered-Bonds-AAA-Ratings-Affirmed-Following-New-Criteria-Application-Outlook-Stable-1820739>
  
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