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Bulletin: Ratings On Fortis Bank Nederland (Holding) Unaffected By Merger With Fortis Bank (Nederland) N.V. Sep 09
Standard & Poors, Sep 2009
Abstract
LONDON (Standard & Poor's) Sept. 1, 2009--Standard & Poor's Ratings Services said that its ratings on Fortis Bank Nederland (Holding) N.V. (FBNH; A/Developing/A-1) are unaffected by its merger, effective today, with its operating subsidiary Fortis Bank (Nederland) N.V. (FBN) and adoption of that name. We usually rate a holding company one notch lower than its main operational banking entity. However, in anticipation of this merger and considering FBNH's banking status, we equalized the ratings on FBNH with the implied ratings on FBN, as we explained in our article, 'Fortis Bank Nederland (Holding) 'A/A-1' Ratings Removed From CreditWatch And Affirmed; Outlook Developing,' published April 9, 2009. Following the merger, the ratings on FBN are therefore A/Developing/A-1. FBN has been wholly owned...
Companies mentioned in this report are: Fortis Bank (Nederland) N.V.
Action: Bulletin
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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