The outlook revision on France-based retail bank La Banque Postale follows our outlook change on its parent, La Poste. We are affirming our ratings on the bank, despite the downgrade on La Poste, to reflect the higher weighting that we give to potential state support over parent support. We would generally limit the rating difference between LBP and La Poste to one notch, reflecting close business ties with its parent. The stable outlook on LBP mirrors that on La Poste, and reflects our belief that the bank will continue to benefit from a high likelihood of support from the French state. PARIS (Standard&Poor's) April 2, 2010--Standard&Poor's Ratings Services said today that it has revised its outlook
