Following the negative credit watch announced on 26 June 2008, Standard & Poors decided to lower the ratings of Fortis by one notch. The rating of Fortis Bank, main issuer within Fortis, has changed from AA- with negative credit watch to A+ with a stable outlook. The other two rating agencies covering Fortis – Fitch and Moodys – updated their ratings recently. These two rating agencies have rated Fortis Bank in the AA category. Fortis capital position remains strong. In this respect, the execution of the financial plan further supports its solidity and enables Fortis to focus on servicing its clients as well as the integration of ABN AMRO.
Lowering The Fortis’s Ratings
Following the negative credit watch announced on 26 June 2008, Standard & Poors decided to lower the ratings of Fortis by one notch. The rating of Fortis Bank, main issuer within Fortis, has changed from AA with negative credit watch