Moody's downgrades ING

Moody's Investors Service said it downgraded the senior debt rating of ING Groep NV to A1 from Aa3, concluding the review. The short-term debt ratings were affirmed at Prime-1.

The outlook is stable.

The actions follows the release of preliminary fourth quarter 2008 results and reflect the sharp deterioration in group profitability, in both the banking and insurance operations, according to the agency..

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.