S&P upgrades BancWest stand-alone rating

Standard & Poor's said it affirmed at A/A-1 the issuer credit ratings on BancWest Corp. and its subsidiaries, Bank of the West and First Hawaiian Bank.

The outlook remains negative.

The agency also said it upgraded the stand-alone credit profile on BancWest to BBB+ from BBB based on improved capital.

Its parent, BNP Paribas, continues to demonstrate its willingness and ability to support the bank, the agency said.

During 2012, the parent company injected $2.24 billion of capital in order to improve the company's capital ratio well before 2015 when U.S. bank-holding companies of foreign banks will have to meet capital requirements at the holding-company level, S&P explained.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.