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Moody's upgrades BNP Paribas Personal Finance

Moody's on Oct. 5 upgraded BNP Paribas Personal Finance SA's long-term deposit and issuer ratings to Aa3 from A1, with a stable outlook.

At the same time, the rating agency affirmed the bank's short-term deposit and issuer ratings at Prime-1 and its long- and short-term counterparty risk assessments at Aa3(cr)/Prime-1(cr).

The upgrade follows a similar action on ultimate parent BNP Paribas SA, and results from Moody's revised advanced loss given failure analysis of the French lender, the agency said.

Moody's added that it believes BNP Paribas Personal Finance will likely be included in the resolution perimeter of its parent as the unit is a closely related bank affiliate incorporated in France with a high degree of integration within the rest of the BNP Paribas group.