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Research Update: Nederlandse Waterschapsbank N.V. 'AAA' Long-Term Rating Placed On CreditWatch Negative Following Sovereign Action Dec 11 Product Image

Research Update: Nederlandse Waterschapsbank N.V. 'AAA' Long-Term Rating Placed On CreditWatch Negative Following Sovereign Action Dec 11

  • ID: 2029699
  • December 2011
  • Standard & Poors

Abstract
On Dec. 5, 2011, we placed the long-term unsolicited sovereign credit ratings on the State of The Netherlands on CreditWatch with negative implications. As a result, we are also placing the 'AAA' long-term rating on Nederlandse Waterschapsbank N.V. (NWB Bank) on CreditWatch negative. At the same time, we are affirming the 'A-1+' short-term rating on NWB Bank. Under our revised bank criteria (published on Nov. 9, 2011), our ratings on NWB Bank reflect its 'a-' anchor, adequate business position, very strong capital and earnings, strong risk position, average funding, and adequate liquidity. In accordance with our criteria for rating government-related entities (GREs), we have raised our assessment of NWB Bank's link with the government to "integral" from "very strong". As...

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

Action: On CreditWatch:Developing

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.

Product Type: Research Update
Research updates complement media releases. They offer more depth and detail than summary analyses by incorporating all information published in the media release. They are more up to date than summaries in that they are published simultaneously with media releases.

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