Moody's Investors Service has downgraded the long-term deposit ratings of ING BSK to Baa1, and has assigned a negative outlook. The downgrade was prompted by Moody's downgrade on 15 June 2012 of parent bank ING BANK N.V.'s standalone bank financial strength rating to C-/baa1, with negative outlook, from C+/a2, which indicates a reduced capacity of the parent bank to provide timely capital and funding support to the subsidiaries, in case of need.
List of rating actions:
- Long-term local and foreign-currency deposit ratings downgraded to Baa1 from A2, negative outlook
- Short-term local and foreign-currency rating downgraded to Prime-2 from Prime-1.