Downgrade for Rabobank
December 9th, 2009Via: New Zealand Herald:
Ratings agency Standard and Poor’s has downgraded its outlook for Rabobank’s AAA credit rating to negative from stable because of the group’s lower earnings in the first half of 2009, partly due to loan losses in Ireland and the Netherlands.
The downgrade in the outlook also affects the Dutch bank’s Australian and New Zealand subsidiaries, Rabobank Australia and Rabobank New Zealand, which also trades here as Raboplus.
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