S&P puts BancWest on watch

Standard & Poor’s said it placed the A long-term issuer credit ratings and A-1 short-term issuer credit ratings on BancWest Corp. and its subsidiaries on CreditWatch with negative implications.

The negative watch follows the same action on its parent, BNP Paribas, S&P said.

The agency said it will likely resolve the CreditWatch for BancWest directly following the resolution of BNP Paribas’s negative watch.

If S&P lowers the long-term issuer credit rating on BNP Paribas by one notch, the agency said it would lower the issuer credit ratings on BancWest and its subsidiaries by one notch.

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