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Viewing report
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Bank Nederlandse Gemeenten N.V. Feb 12
Standard & Poors, Feb 2012
Abstract
Its 50% ownership by the State of The Netherlands. Leading lender to Dutch public authorities, supporting very strong asset quality. Sound capitalization. Low cost base and strong operating efficiency. Sector and geographic concentration with limited diversification of income sources. Moderate capital generation due to low lending margins. The negative outlook on BNG reflects that on the State of The Netherlands (unsolicited ratings AAA/Negative/A-1+). Under our criteria for rating government-related entities (GREs), with all other factors remaining the same, we would lower the long-term counterparty credit rating on BNG by one notch if we were to lower the sovereign rating by one notch. A negative rating action on BNG could also result from a reassessment of BNG's public policy role in...
Companies mentioned in this report are: Bank Nederlandse Gemeenten N.V.,Netherlands (The) (State of) (Unsolicited Ratings),Nederlandse Waterschapsbank N.V.,Waarborgfonds Sociale Woningbouw,Waarborgfonds voor de Zorgsector
Action: Review
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: Full Analysis
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