DBRS confirms BNP Paribas

DBRS said it confirmed BNP Paribas SA’s long-term issuer rating at AA (low) and the short-term issuer rating at R-1 (middle).

The agency also affirmed the senior non-preferred debt rating at A (high) and the subordinated debt rating at A.

The long-term and short-term critical obligations ratings were confirmed at AA (high) and R-1 (high), respectively.

The trend is stable.

The intrinsic assessment was maintained at AA (low) and its support designation at SA3.

DBRS said it takes into account BNP Paribas’ very strong and diversified franchise, its ability to adapt to challenges in the operating environment, robust earnings generation capacity and conservative risk profile.

The proportion of impaired exposures is above some peers but asset quality has been consistently improving in recent years, the agency added.

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