Summary: Nederlandse Waterschapsbank N.V. Aug 08

Standard & Poors, August 2008

Abstract
The ratings on Nederlandse Waterschapsbank N.V. (NWB) are based on the implicit support the bank receives from the Dutch Ministry of Finance, which provides a two-notch ratings differential from NWB's stand-alone credit strength under Standard & Poor's Ratings Services' government-related entity (GRE) methodology. The ratings on NWB are also supported by the bank's extremely low credit risk, resulting from its strict public sector lending mandate; strong capital ratios; exceptionally low cost base; and consistent strategy. The amount of uplift NWB currently receives is constrained by its high stand-alone creditworthiness; there is scope for further notching of support to be factored into the credit rating on NWB. NWB's its Articles of Association restrict its ownership and activities to the public sector....

Companies mentioned in this report are:
- Nederlandse Waterschapsbank N.V.

Action: Review

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.

This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.

- Nederlandse Waterschapsbank N.V.

Customers who bought this item also bought

• EADS N.V.: Defense Company Profile, SWOT and Financial Report
• Defense Spending in the Netherlands
• AerCap Holdings N.V. - Mergers & Acquisitions (M&A), Partnerships & Alliances and Investment Report
• Aerospace & Defense in Europe
• The Saudi Arabia Defense Industry - Competitive Landscape and Strategic Insights to 2017: Market Profile
• Global Aerospace & Defense
• Aerospace & Defense in Italy
• Aerospace & Defense in Spain
• Aerospace & Defense in France
• Defense Spending: Global Industry Guide