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S&P rates Paribas Securities Services AA
Standard & Poor's said it assigned an AA/A-1+ long- and short-term counterparty credit ratings to BNP Paribas Securities Services.
The outlook is negative.
The agency said it designates BNP Paribas Securities Services as a core subsidiary of BNP Paribas, resulting in equalized ratings.
The core status reflects the bank's full ownership by BNP Paribas and its high integration within the investment solutions division of BNP Paribas, S&P said.
On a stand-alone basis, Paribas Securities Services enjoys a strong and growing business position in assets and funds servicing, along with clearing services, the agency said.
Offsetting these factors is the entity's weak capitalization and low profitability, S&P added.
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