S&P affirms ratings Rabobank, Outlook revised to Stable

On 28 June 2019 S&P Global Ratings (S&P) announced that it had affirmed the ratings on Coöperatieve Rabobank (A+/A-1) and Rabobank New Zealand Ltd. (A/A-1). At the same time S&P revised its Outlook to Stable from Positive.

The previous Positive Outlook (revised in September 2017) was linked to S&P’s expectation of reducing economic imbalances at the country level. S&P expects economic risk in the Netherlands to remain stable over the coming years as ‘the Dutch economy continues to perform well and continues to support banking activities in the country’, although S&P hasn’t observed ‘a reduction of economic imbalances stemming from a reduction of private sector leverage’. In addition, S&P states that it ‘also base our view on economic risk on the very open nature of the Dutch economy, which is a source of volatility, as well as current global trade tensions and the uncertainty around Brexit, which overall will contribute to the expected slowdown of economic growth in Europe.’. According to S&P the ratings on Rabobank ‘capture well the balance between the strengths and weaknesses we observe for the Dutch economy and bank-specific factors. Consequently, we have affirmed our ratings on the bank and revised to stable the rating’s outlook.’.

Published: 1 July 2019, 2:00pm CET

Elements of this press release are considered by Rabobank as inside information relating directly or indirectly to Rabobank within the meaning of article 7 of the Market Abuse Regulation (EU Regulation 596/2014) that is made public in accordance with article 17 Market Abuse Regulation.

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