TEXT-S&P corrects to 'A-' BNPP Fortis Funding sub debt issue rtg

Fri Dec 21, 2012 6:45am EST

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

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