Fitch: Rabobank Nederland notes BBB

Fitch Ratings said it assigned a final BBB rating to Cooperatieve Centrale Raiffeisen-Boerenleenbank BA’s (Rabobank Nederland) €1.5 billion issue of additional tier 1 capital notes.

Rabobank Nederland is the central organization of Rabobank Group.

The rating is five notches below Rabobank’s viability rating of AA- in accordance with the agency’s criteria for assessing and rating bank subordinated and hybrid securities, Fitch said.

The notching reflects the high loss severity on the notes relative to senior unsecured creditors and materially higher risk of non-performance than that reflected in the viability rating, the agency said.

Fitch said the bank has a robust capital position.

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