Research Update: ABN AMRO Bank 'A+' Rating Affirmed, Off CreditWatch Negative After Similar Action On The Netherlands; Outlook Negative Jan 12
- Language: English
- Published: January 2012
- Region: Holland, Netherlands
The ratings on Dutch bank ABN AMRO Bank N.V. (ABN AMRO), which completed its merger with Fortis Bank Nederland N.V. (FBN) on July 1, 2010, principally reflect Standard & Poor's Ratings Services' view of the bank's full ownership by The Netherlands, combined with its good market position in Dutch banking, moderate credit risk profile, and sound capital position. However, we believe that the merger's execution risk and the likelihood that profitability and funding will remain mediocre in the coming years are weaknesses for the ratings. The ratings incorporate two notches of uplift for potential extraordinary support above our assessment of ABN AMRO's stand-alone credit profile (SACP), in line with our expectation that the Dutch state would provide support if needed....
Companies mentioned in this report are:
- ABN AMRO Bank N.V.
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- ABN AMRO Bank N.V.