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S&P corrects ABN Amro Bank
Standard & Poor's said it corrected its ratings on the senior secured issues of ABN Amro Bank NV by lowering them to A+ from AA-.
The agency said this rating action aligns the issue ratings with the A+ long-term counterparty credit rating on ABN Amro under revised bank criteria published Nov. 9.
In addition, the agency said it placed the A+ rating on ABN Amro's senior secured issues on CreditWatch with negative implications, in line with the Dec. 8 placement of the long-term counterparty credit rating on ABN Amro on CreditWatch negative.
Due to an error, the ratings were not equalized with ABN Amro's long-term counterparty credit rating following a change in criteria in 2009, S&P said.
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