S&P cuts BNP Paribas

Published 15.10.2011 12:51

Standard & Poor's on Friday cut the rating of French bank BNP Paribas as part of a downward revision of the country's banking sector, which is suffering the impact of tougher economic and funding conditions.

S&P cut BNP Paribas' long-term credit rating to AA-minus from AA.

It also affirmed the rating of four other French banks: BPCE, Credit Agricole , Credit Mutuel and Societe Generale .

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