Dec 21 - Standard & Poor's Ratings Services today corrected its rating on a senior subordinated debt issue of BNP Paribas Fortis Funding to 'A-' from 'A+'. The 10-year EUR25 million index-linked notes issued on June 18, 2008, by BNP Paribas Fortis Funding (at that time Fortis Luxembourg Finance S.A.) and guaranteed by Fortis Bank S.A./N.V. (A+/Negative/A-1), were displayed in our database as senior unsecured debt.
RELATED CRITERIA AND RESEARCH
-- Banks: Rating Methodology And Assumptions, Nov. 9, 2011
-- Bank Hybrid Capital Methodology And Assumptions, Nov. 1, 2011