Dutch bank credit ratings cut out by Moody
Moody, one of the most famous credit rating agency, Moody has downgraded the credit rating of some of the banks of Dutch as well as Belgium. This is also inclusive of ABN Amro as well as ING. All this has happened because of the debt crisis trouble of the eurozone.
As far as the long-term ratings at ING, Rabobank, ABN, LeasePlan and also KBC are concerned, they were cut down by around two grades. In addition to this, the credit rating of SNS was brought down to one level.
The official at Moody has to say that it is very much possible that the banks of Dutch are going to face a problem in operating all through the year 2012 and also in the coming time as well. All these cuts were introduced in the whole situation of the trouble of debts that Italy, Spain as well as Cyprus are concerned.
A general election that is going to take place in Greece, is also going to be a determinant of the undermining fiscal confidence that is going to dwell into the anti-austerity parties that is going to be get expected.
The Netherlands is expected that it is going face a lot of trouble because of the debt crisis that the countries in the area of euro zone are concerned as well as because of the weakness of the economy. This is what has been said by a statement that was given by Moody.
As far as the Dutch banks are concerned, the ratings of ING are now A3, while its unit of the ING Bank has also being downgraded by two levels, to the level of A2. Rabobank Nederland was brought down to the level of Aa2, which is the third-highest investment grade, and ABN Amro was lowered to A2, with LeasePlan Corp lowered to Baa2.
SNS is now at the level of Baa2. The ratings of ING have had an outlook that was negative as well as the ratings of the other lenders are stable at this point of time.
The KBC Group Belgium was brought down by two levels at Baa1, as well as its Bank unit came down to the level of A3. . There are no hurdles in spending the amount from the side of the money lender. loans for people with bad credit @ www.loansforpeoplewithbadcredithistory.org .uk have very flexible terms and conditions under this the repayment plan of the funds can be designed by the borrower according to its comfort.
In its statement, Moody had to say that the operating conditions in these banks are quite adverse. These troubles are also inclusive of troubles such as recession of the present time and also the prices of the houses that are going low in the Netherlands. All this is going on till the year 2012 at least.
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