Fitch changes Aegon Bank to stable

Fitch Ratings said it revised Aegon Bank NV's outlook to stable from negative and affirmed the long-term issuer default rating at A-.

Fitch said the outlook revision reflects its decision to equalize Aegon Bank's issuer default ratings with the bank's ultimate 100% owner, Aegon NV (A-/stable), a large international insurance group. This is driven by the agency’s expectation that Aegon will be extremely likely to provide extraordinary support if ever needed.

Fitch said its view is driven by the increasingly important role of Aegon Bank within the group, complementing its insurance activities in the Netherlands, which is one of Aegon's core markets.

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