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Fitch Affirms BNP Paribas at 'AA'; Places Banca Nazionale del Lavoro on Rating Watch Positive.

Publication: Business Wire
Publication Date: 04-FEB-06 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
LONDON & PARIS -- Fitch Ratings has affirmed the ratings of BNP Paribas (BNPP) at 'AA' Long-term, 'F1+' Short-term, 'A/B' Individual, '1' Support. The Outlook for the Long-term rating remains Stable. The agency has upgraded Banca Nazionale del Lavoro's (BNL) Individual rating to 'C' from 'C/D'. At the same time, the agency has placed on RatingWatch Positive BNL's ratings of Long-term 'BBB+', Short-term 'F2' and Support '2'.

Today's rating action follows the announcement of the planned acquisition by BNPP of a controlling stake of c.48% in BNL from Unipol and associated parties. The acquisition is subject to approval by the boards of BNPP and Unipol and by the Banca d'Italia. If the deal...

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