RPT ING Group's ratings affirmed on share buyback - Fitch |
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Wed, 16 May 2007 17:37
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(Fitch corrected its support rating in para 4 to '1' from '2' as stated earlier)MUMBAI (Thomson Financial) - Fitch Ratings said it has affirmed its ratings on ING Group NV after the Dutch banking and insurance group announced a 5 bln eur share buyback programme.Fitch has an issuer default rating of 'AA-' and a short-term rating of 'F1+' on ING Group.Though the group's capital adequacy and leverage ratios will be negatively affected by the buyback, Fitch said it expects the capital position to remain acceptable at the current rating levels.The ratings agency also affirmed its issuer default rating of 'AA', short-term rating of 'F1+', individual rating of 'A/B' and support of '1' on ING Bank, and its issuer default rating of 'AA-' on ING Verzekeringen.The outlooks on all the ratings are stable, the ratings agency said in a statement.TFN.newsdesk@thomson.comans/lamCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.
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ING Group's ratings affirmed after share buyback announcement - Fitch 