LONDON (Standard&Poor's) Nov. 23, 2001--Standard&Poor's today lowered its short-term credit ratings on Netherlands-based car fleet management and leasing company, ABN AMRO Lease Holding N.V. (AALH) and related entities to 'A-1' from 'A-1'-plus. At the same time, Standard&Poor's removed AALH from CreditWatch with negative implications, where it was placed on Sept. 18, 2001. (See list below for all ratings affected.) The rating action reflects Standard&Poor's opinion that AALH is no longer considered a core activity of its parent, ABN AMRO Bank N.V. (AA/Stable/A-1+). Although it was announced on Nov. 19, 2001, that the operations of AALH will be retained by ABN AMRO--following media speculation over the past few months to the contrary--AALH will
