RBS, Fortis, Banco Santander ratings affirmed on ABN Amro offer - Moody's |
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Thu, 31 May 2007 06:52
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MUMBAI (Thomson Financial) - Moody's Investors Service affirmed its 'Aaa/P-1/B+' ratings on the Royal Bank of Scotland PLC (RBS), 'Aa1/P-1' ratings on Banco Santander and 'Aa2/P-1' ratings on Fortis, following the consortium's proposed 71.1 bln eur offer for ABN Amro Bank NV.Moody's also affirmed its 'Aa2/P-1/B-' ratings on ABN AMRO Bank, with a stable outlook on its debt ratings and a positive outlook on its BFSR ratings.However, Moody's cut its outlook on RBS' BFSR and long-term ratings to negative from stable, citing litigation uncertainties on completion of the deal, a counter-bid possibility for ABN AMRO, integration challenges, and negative short-term impact on the bank's capital and historically strong earnings.Outlook on ratings of Banco Santander and Fortis is stable, Moody's said.TFN.newsdesk@thomson.comypv/jroCOPYRIGHTCopyright 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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Fortis, RBS, Santander ratings unaffected by proposal to buy ABN Amro - Moody's 