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S&P affirms FHB’s ‘AA-’ rating
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Posted on Jul 22 2008
[B]Honolulu, Hawaii[/B]—Standard & Poor’s Rating Services has affirmed its credit rating of First Hawaiian Bank, including its “AA-” long term rating. Standard & Poor’s cited overall consistent earnings, diversified loan portfolio, and strong asset quality. During 2007, the bank’s long-term credit rating was upgraded from A+ to AA-.
According to Standard & Poor’s, which is one of the nation’s major independent credit rating agencies, a rating demonstrates and benchmarks a financial institution’s creditworthiness. Standard & Poor’s Corporate Credit Ratings provide independent evaluation of the creditworthiness of both public and private companies.
First Hawaiian Bank (www.fhb.com) with $13 billion in assets was founded in 1858 and is Hawaii’s oldest and largest bank. The bank’s holding company, BancWest Corporation (www.bancwestcorp.com), is a wholly-owned subsidiary of BNP Paribas, a leader in global banking and financial services. BNP Paribas is one of the best credit rated banks in the world with an AA+ credit rating from Standard & Poor’s. [B][I](FHB)[/I][/B]
