S&P cuts Rabobank Nederland to negative

Standard & Poor's said it revised its outlooks on Cooperatieve Centrale Raiffeisen-Boerenleenbank BA (Rabobank Nederland) and its subsidiaries Rabobank Australia Ltd. and Rabobank New Zealand Ltd. to negative from stable.

At the same time, the AAA/A-1+ counterparty credit ratings on these entities were affirmed.

"The ratings on Rabobank Nederland reflect our view of its strong financial position, closely controlled risk profile, and leading franchise in The Netherlands," said S&P credit analyst Richard Barnes in a news release.

"The negative outlook reflects our expectation that the weak economic environment will continue to challenge the banking industry over the rating horizon," Barnes added.

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