S&P revises ABN Amro Bank view to negative

S&P said it revised its outlook on ABN Amro Bank NV to negative from stable and affirmed its A/A-1 long- and short-term issuer credit ratings on the bank.

The issue ratings on debt instruments are unchanged.

“The outlook revision reflects S&P Global Ratings' views that ABN Amro’s robust financial profile, notably earnings and capital, will likely be eroded by bank-specific and systemic events, amid the Covid-19 pandemic and ensuing capital markets and economic challenges,” S&P said in a news release.

“We expect the bank's asset quality to deteriorate, given the more adverse operating environment.”

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