BNP Paribas: S&P upgrades credit outlook
(CercleFinance.com) - The BNP Paribas stock is up 1.
7% today, following a decision by S&P Global Ratings to upgrade its outlook on the French bank from "stable" to "positive," while confirming its long-term credit rating of "A," with a short-term credit rating of "A-1".
The rating agency justifies this upgrade in its outlook by the rapid constitution of a debt cushion that could be reclassified in equity, a constitution initiated by the institution in 2017, and which it believes will continue.
S&P now sees a possibility that it could incorporate extraordinary support for additional loss absorbing capacity in its long-term rating of BNP Paribas over the coming year.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
7% today, following a decision by S&P Global Ratings to upgrade its outlook on the French bank from "stable" to "positive," while confirming its long-term credit rating of "A," with a short-term credit rating of "A-1".
The rating agency justifies this upgrade in its outlook by the rapid constitution of a debt cushion that could be reclassified in equity, a constitution initiated by the institution in 2017, and which it believes will continue.
S&P now sees a possibility that it could incorporate extraordinary support for additional loss absorbing capacity in its long-term rating of BNP Paribas over the coming year.
Copyright (c) 2018 CercleFinance.com. All rights reserved.