S&P Cuts BNP Paribas Long-Term Rating to 'AA-' with Stable Outlook

BUCHAREST (Romania), October 17 (SeeNews) - Rating agency Standard & Poor's said it cut its long-term counterparty credit rating on French bank BNP Paribas and its core subsidiaries to 'AA-' from 'AA' and affirmed its 'A-1+' short-term counterparty credit rating, with a stable outlook. S&P also affirmed its 'A+/A-1' counterparty credit ratings on BPCE, Credit Agricole S.A., Caisse Centrale du Credit Mutuel, Banque Federative du Credit Mutuel and Societe Generale, as well as on all the core subsidiaries of these banks, the rating agency said in a statement on Friday.