Cooperatieve Rabobank U.A.'s Debt Issuance Program Senior Nonpreferred Notes Assigned 'A-' Rating

PARIS (S&P Global Ratings) May 14, 2018--S&P Global Ratings said today that it had assigned its 'A-' issue rating to the senior nonpreferred notes that Dutch Coöperatieve Rabobank U.A. (Rabobank; A+/Positive/A-1) may issue under its recently updated €160 billion global medium-term note program, according to the current terms and conditions. The issue rating relies on our analysis of Rabobank's updated base prospectus for its €160 billion euro medium-term note program, under which the notes would be issued. The rating also takes into account our assessment of Rabobank's stand-alone credit profile (SACP) at 'a', which is based on our analysis of the Rabobank group. The rating is subject to our review of the notes' final documentation. On March 9, 2018, the

...PARIS (S&P Global Ratings) May 14, 2018--S&P Global Ratings said today that it had assigned its 'A-' issue rating to the senior nonpreferred notes that Dutch Co÷peratieve Rabobank U.A. (Rabobank; A+/Positive/A-1) may issue under its recently updated 160 billion global medium-term note program, according to the current terms and conditions. The issue rating relies on our analysis of Rabobank's updated base prospectus for its 160 billion euro medium-term note program, under which the notes would be issued. The rating also takes into account our assessment of Rabobank's stand-alone credit profile (SACP) at 'a', which is based on our analysis of the Rabobank group. The rating is subject to our review of the notes' final documentation. On March 9, 2018, the Dutch legislator submitted a bill to the Dutch parliament implementing EU Directive 2017/2399 to introduce a new category of unsecured debt. In a liquidation, this new category would rank junior to ordinary unsecured creditors and preferred...

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