Fitch lifts Achmea Hypoteekbank view to stable

Fitch Ratings said it revised Achmea Hypoteekbank's outlook to stable from negative and affirmed its long-term issuer default rating at A-, short-term issuer default rating at F2 and senior unsecured long-term government guaranteed debt at AAA.

The ratings are based on the potential support available from its 100% shareholder, Achmea Holding NV, Fitch said. This action reflects the improvement of the creditworthiness of the Achmea/Eureko group, the agency said.

Eureko has a market-leading position in the sale and distribution of insurance products in the Netherlands, Fitch said. Its portfolio is fairly diversified and in 2010, it benefited from an improvement in operational efficiency and a reduction in its unprofitable business, the agency said.

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