Fitch reviews First Hawaiian Bank

Fitch Ratings said it placed First Hawaiian Bank's support rating and long-term issuer default rating on Rating Watch Negative. This action follows the announcement by the bank’s ultimate parent, BNP Paribas, that it is considering strategic alternatives for the bank.

Fitch also affirmed First Hawaiian Bank’s short-term deposit rating at F1.

First Hawaiian Bank's long-term issuer default rating reflects its ownership by BancWest Corp., rated A/F1. BancWest in turn is a wholly owned subsidiary of BNP Paribas, rated A+/F1.

Fitch placed the long-term issuer default rating on Rating Watch because the agency believes the consideration of strategic alternatives for First Hawaiian Bank may reduce the propensity of support for the bank.

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