Moody’s might up BNP Paribas Fortis debt

Moody’s Investors Service said it placed on review for upgrade the Ba2(hyb) junior subordinated debt rating of BNP Paribas Fortis SA/NV (A1/A2 stable, baa1).

The outlook was changed to rating under review from stable.

The agency said the action follows the review for upgrade on the Baa2 issuer rating of Ageas SA/NV and the Ba2(hyb) rating of Ageasfinlux SA's backed junior subordinated securities and reflects the fact that BNP Paribas Fortis' junior subordinated debt are similar in nature to the backed junior subordinated securities.

Both securities were issued when BNP Paribas Fortis and Ageasfinlux were part of the now dismantled Fortis group.

All other ratings of BNP Paribas Fortis are unaffected, the agency said.

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