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NEDERLANDS: MOODY'S DOWNGRADES FORTIS BANK'S MCS TO B2.

Publication: IPR Strategic Business Information Database
Publication Date: 01-OCT-09
Format: Online
Delivery: Immediate Online Access

Article Excerpt
Moody's Investors Service has today downgraded the rating of the EUR2 billion 8.75% Mandatory Convertible Securities (MCS) to B2 from Ba2. The rating has been placed on review for possible further downgrade. The MCS were issued by Fortis Bank (Nederland) N.V. (FBN), Fortis SA/NV, Fortis N.V., and Fortis Bank SA/NV, but the coupons are served by FBN only. The MCS, which are...



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