Moody's downgrades ING Bank Slaski, Eurasia

Moody's Investors Service said it downgraded the long-term deposit ratings of ING Bank Slaski (Poland) to Baa1 with a negative outlook from A2.

Moody's also downgraded the long-term deposit ratings and debt rating of ING Bank Eurasia (Russia) to Baa2 with a negative outlook from Baa1.

Moody's said the downgrade of these two subsidiaries was prompted by its June 15 downgrade of ING BANK NV's standalone bank financial strength rating to C-/Baa1, with negative outlook, from C+/A2, which indicates a reduced capacity of the parent bank to provide timely capital and funding support to the subsidiaries, in case of need.

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