S&P Includes Rabobank Nederland's New Member Certificates In ACE; Tier 1 Issue Classified As 'Intermediate' Hybrid Dec 11

  • ID: 2032125
  • December 2011
  • Standard & Poors
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LONDON (Standard & Poor's) Dec. 13, 2011--Standard & Poor's Ratings Services said today that it has decided to include the new Member Certificates (not rated) issued by Coöperatieve Centrale Raiffeisen-Boerenleenbank B.A. (Rabobank Nederland; AA/Watch Neg/A-1+) in its adjusted common equity (ACE) measure. In addition, we have classified Rabobank Nederland's $2 billion 8.40% perpetual non-cumulative capital securities issue (not rated) from November 2011 as an "intermediate" equity content hybrid under our criteria. These decisions do not affect our assessment of Rabobank Nederland's capital and earnings as "adequate" under our criteria (see -Rabobank Nederland Long-Term Rating Lowered To 'AA' On Bank Criteria Change; S-T Rating Affirmed; Outlook Stable,- published on Nov. 29, 2011). The inclusion of the new Member Certificates in ACE...

Companies mentioned in this report are:
- Cooperatieve Rabobank U.A.

Action: General Comment

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- Cooperatieve Rabobank U.A.

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