Rating agencies announce expected rating levels for the new ABN AMRO Bank N.V.

Press release -

ABN AMRO is in a restructuring process to transfer ABN AMRO's Dutch State acquired businesses and activities to a new legal entity of which the shares are held by the current ABN AMRO Holding N.V. and that is to be renamed ABN AMRO Bank N.V. after the legal demerger to effect the majority of this restructuring.


The current ABN AMRO Bank N.V. will be renamed The Royal Bank of Scotland N.V. upon the legal demerger. The legal demerger is planned to take place in this first quarter of 2010.

ABN AMRO has requested a banking license from the Dutch Central Bank (De Nederlandsche Bank N.V.) for the new ABN AMRO Bank N.V. On 13 January 2010 the Dutch Central Bank (De Nederlandsche Bank N.V.) granted a banking license to the new ABN AMRO Bank N.V. for engaging in universal banking business in the Netherlands.

In preparation of the restructuring process establishing the new ABN AMRO Bank N.V., ABN AMRO has requested Standard & Poor's, Moody's Investors Service and Fitch Ratings to provide credit ratings for the new ABN AMRO Bank N.V. including the majority of the Dutch State acquired businesses upon legal demerger.

All three rating agencies Standard & Poor's, Moody's Investors Service and Fitch Ratings have now announced the rating levels they expect to assign to the new ABN AMRO Bank N.V. upon legal demerger.

  • On 7 January 2010, Standard & Poor's announced it expects to assign A+ (long term) / A-1 (short term) ratings with a negative outlook to the new ABN AMRO Bank N.V. upon legal demerger

  • On 20 January 2010, Fitch Ratings announced it expects to assign A+ (long term) / F1+ (short term) ratings with a stable outlook to the new ABN AMRO Bank N.V. upon legal demerger

  • On 25 January 2010, Moody's Investors Service has assigned provisional ratings Aa3 (long term) / P-1 (short term) with a negative outlook to the new ABN AMRO Bank N.V. Moody's Investors Services will assign final ratings upon legal demerger.

ABN AMRO publishes these announced rating levels for information purposes only. ABN AMRO does not endorse Moody's Investor Services, Fitch Ratings or Standard & Poor's ratings or views and does not accept any responsibility for their accuracy.

For more information, please contact:

ABN AMRO Press Office
pressrelations@nl.abnamro.com
+31 20 6288900

RBS Group Investor Relations
Investor.relations@rbs.com
+44 207 672 1758

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