LONDON (Standard&Poor's) April 27, 2005--Standard&Poor's Ratings Services said today that its ratings on Rabobank Nederland (Rabobank: AAA/Stable/A-1+) are unlikely to be affected by Rabobank's announced intention to merge its Interpolis insurance operations with Achmea in exchange for an increase to 37% (from 5%) in its stake in Eureko B.V. (BBB+/Stable/--), Achmea's owner. There will be no cash payment for the stake. The proposed transaction would give Rabobank a stronger position in the Dutch insurance market and improve its co-ordination with Achmea, which should help its overall business position in Dutch financial services. Rabobank will also have a greater exposure to Eureko's growing international business. The transaction reflects Rabobank's search for opportunities outside of its traditional core
