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NIBC Bank N.V. Long-Term Rating Lowered To 'BBB' On Deteriorated Asset Quality; 'A-2' Affirmed; Outlook Negative Sep 09 Product Image

NIBC Bank N.V. Long-Term Rating Lowered To 'BBB' On Deteriorated Asset Quality; 'A-2' Affirmed; Outlook Negative Sep 09

  • ID: 1924522
  • September 2009
  • Standard & Poors

Abstract
We are lowering our long-term counterparty credit rating on Netherlands-based NIBC Bank to 'BBB' from 'BBB+'. In our opinion, the probability that NIBC Bank will report a loss in 2009 has increased, because of deteriorated asset quality and pressure on net interest income. We are affirming the 'A-2' short-term rating due to improvement in liquidity indicators and the maintenance of very cautious liquidity management. The negative outlook reflects the possibility that profitability and asset quality could deteriorate further than we expect and weaken the bank's strong capital base. PARIS (Standard & Poor's) Sept. 24, 2009--Standard & Poor's Ratings Services said today that it lowered its long-term counterparty credit rating on Netherlands-based NIBC Bank N.V. to 'BBB' from 'BBB+' and affirmed...

Companies mentioned in this report are:
- NIBC Bank N.V.

Action: Affirmed
Action: Downgraded
Action: Outlook: Negative
Action: Removed From CreditWatch

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.

Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.

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- NIBC Bank N.V.

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