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DBRS assigns short-term issuer rating to BNP Paribas Belgian unit

DBRS on Aug. 1 assigned BNP Paribas Fortis SA an R-1 (middle) short-term issuer rating.

The rating agency confirmed parent BNP Paribas SA's AA (low)/R-1 (middle) long- and short-term issuer ratings as well as its AA (low)/R-1 (middle) long- and short-term deposit ratings.

DBRS also affirmed the French lender's AA (high) critical obligations rating and its short-term critical obligations rating at R-1 (high), while the intrinsic assessment and support designation was maintained at AA (low) and SA3, respectively.

The trend on all the ratings is stable, according to the agency.

At the same time, DBRS discontinued and withdrew the long-term deposit and senior debt ratings and short-term debt rating of BNP Paribas Canada, following the wind-down of its operations.

BNP Paribas recently reported second-quarter net income attributable to equity holders of €2.40 billion, down from €2.56 billion in the same period in 2016, after booking exceptional items totaling a €170 million after-tax charge.