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ING Groep N.V. Mar 10
Standard & Poors, March 2010
Sound capital position. Strong domestic banking and insurance franchises. Good geographic diversification in both banking and insurance. Potential for strategic distraction while undertaking group restructuring. Challenging operating environment. ING Groep N.V. is the Netherlands-incorporated nonoperational holding company of the ING group, active in both banking and insurance operations internationally, primarily through ING Bank N.V. and ING Verzekeringen N.V., respectively. In October 2009, ING announced that, as required by the European Commission's (EC) state aid investigation, it would spin off its insurance operations by the end of 2013. As a result, Standard & Poor's Ratings Services' ratings on ING no longer incorporate any benefits to the group from the diversification provided by owning banking and insurance operations. Our ratings on ING...
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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