Rabobank Outlook Cut to Negative by S&P After Libor Fine
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Rabobank Nederland had its outlook lowered by Standard & Poor’s after the biggest Dutch mortgage lender was fined 774 million euros ($1 billion) for its involvement in rigging benchmark interest rates.
S&P revised its outlook on the long-term ratings of the company, the debt-issuing entity of Rabobank Groep, to negative from stable, while affirming the AA-/A-1+ counterparty credit ratings, according to a statement today.