Research Update: Rabobank Nederland 'AA' Long-Term Ratings Placed On Watch Negative Following Sovereign Action Dec 11
Standard & Poors, December 2011
Abstract
On Dec. 5, 2011, Standard & Poor's Ratings Services placed the 'AAA' long-term unsolicited sovereign credit rating on the State of the Netherlands on CreditWatch with negative implications. As a direct result, we are placing our 'AA' long-term counterparty credit and long-term senior unsecured debt ratings on Coöperatieve Centrale Raiffeisen-Boerenleenbank B.A. (Rabobank Nederland), and its guaranteed subsidiaries, on CreditWatch with negative implications. We intend to resolve the CreditWatch placement on Rabobank Nederland and its guaranteed subsidiaries within four weeks of the resolution of the CreditWatch placement on The Netherlands. We expect that the ratings on Rabobank Nederland and its guaranteed subsidiaries which have been placed on CreditWatch could be either lowered by one notch to 'AA-' or affirmed at 'AA'....
Companies mentioned in this report are:
- Cooperatieve Centrale Raiffeisen-Boerenleenbank B.A. (Rabobank Nederland)
- Rabobank Australia Ltd.
- Rabohypotheekbank N.V.
- Rabobank USA Financial Corp.
- Rabo Australia Ltd.
- Rabobank New Zealand Ltd.
- Rabobank Capital Funding Trust II
- Rabobank Capital Funding Trust III
- Rabobank Capital Funding Trust IV
- Rabobank Capital Funding Trust V
- Rabobank Capital Funding Trust VI
- Rabobank Nederland (Australia Branch)
- Rabo Capital Securities Ltd.
Action: On CreditWatch:Negative
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.
- Cooperatieve Centrale Raiffeisen-Boerenleenbank B.A. (Rabobank Nederland)
- Rabobank Australia Ltd.
- Rabohypotheekbank N.V.
- Rabobank USA Financial Corp.
- Rabo Australia Ltd.
- Rabobank New Zealand Ltd.
- Rabobank Capital Funding Trust II
- Rabobank Capital Funding Trust III
- Rabobank Capital Funding Trust IV
- Rabobank Capital Funding Trust V
- Rabobank Capital Funding Trust VI
- Rabobank Nederland (Australia Branch)
- Rabo Capital Securities Ltd.
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