Fitch cuts Rabobank

Fitch Ratings said it downgraded Rabobank Group's long-term issuer default rating to AA from AA+ and its viability rating to AA from AA+.

Fitch also said it downgraded its central organization, Cooperatieve Centrale Raiffeisen-Boerenleenbank BA's (Rabobank Nederland) long-term issuer default rating to AA from AA+.

The downgrade reflects the material market and fundamental challenges facing many banks globally, particularly in Europe, Fitch said.

Rabobank continues to be one of the most creditworthy banks in the agency's portfolio and has the highest viability rating of any commercial bank rated by Fitch.

Its capitalization is robust, its liquidity is well managed, its earnings have been resilient and its risk profile generally low, the agency said.

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