Moody's Investors Service announced that it has downgraded the long-term debt and deposit ratings for five Dutch banking groups, four of them by two notches and one by a single notch. The short-term ratings for all aforementioned groups are unchanged, the agency specified.
Moody's agency said it had cut long-term debt and deposit ratings by two notches to Aa2 for Rabobank Nederland, to A2 for ING Bank (ING: Quote), to A2 for ABN AMRO Bank N.V. (ABNYY.PK), and to Baa2 for LeasePlan Corp N.V. The long-term debt and deposit ratings for SNS Bank N.V. were downgraded by one notch to Baa2.
Concurrently, Moody's has assigned stable outlooks to the ratings for four of the groups, while assigning negative outlooks to the ratings for ING Bank N.V. and its related entities.
"Dutch banks will face difficult operating conditions throughout 2012 and possibly beyond," the agency said in the statement.
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by RTT Staff Writer
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