Moody's cuts five Dutch banks

Moody's Investors Service said it downgraded the long-term debt and deposit ratings for five Dutch banking groups.

The long-term debt and deposit ratings for four groups declined by two notches: to Aa2 for Rabobank Nederland, to A2 for ING Bank NV, to A2 for ABN AMRO Bank NV and to Baa2 for LeasePlan Corp. NV.

The long-term debt and deposit ratings for SNS Bank NV were downgraded by one notch to Baa2.

Moody's also assigned stable outlooks to the ratings for four of the groups, while assigning negative outlooks to the ratings for ING Bank and its related entities.

Moody's said these actions reflect its view that Dutch banks will face difficult operating conditions throughout 2012 and possibly beyond.

Furthermore, the Dutch banks affected by these actions have structural features, which, while not new, heighten risks for creditors amidst elevated uncertainty and downside risks to the economic outlook and fragile investor confidence in Europe.

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