Dutch Bank LeasePlan 'BBB+/A-2' Ratings Affirmed On Continuing Group Support; Outlook Stable

On April 16, 2015, LeasePlan announced that discussions between its current 100% shareholder, Global Mobility Holding, and a group of investors regarding a potential change of ownership have been terminated. We still view LeasePlan as moderately strategic to its ultimate parent, German automaker Volkswagen AG (VW), and continue to assess LeasePlan's stand-alone credit profile at 'bbb'. We are consequently affirming our 'BBB+/A-2' ratings on LeasePlan and removing them from CreditWatch negative. The stable outlook reflects our expectation that LeasePlan will remain an important investment for VW and that it can maintain its strong capitalization and prevent any deterioration in asset quality. PARIS (Standard&Poor's) May 21, 2015--Standard&Poor's Ratings Services said today that it had affirmed its 'BBB+/A-2'

...+ On April 16, 2015, LeasePlan announced that discussions between its current 100% shareholder, Global Mobility Holding, and a group of investors regarding a potential change of ownership have been terminated. + We still view LeasePlan as moderately strategic to its ultimate parent, German automaker Volkswagen AG (VW), and continue to assess LeasePlan's stand-alone credit profile at '###'. + We are consequently affirming our '###+/A-2' ratings on LeasePlan and removing them from CreditWatch negative. + The stable outlook reflects our expectation that LeasePlan will remain an important investment for VW and that it can maintain its strong capitalization and prevent any deterioration in asset quality. PARIS (Standard & Poor's) May 21, 2015--Standard & Poor's Ratings Services said today that it had affirmed its '###+/A-2' long- and short-term counterparty credit ratings on Dutch Bank LeasePlan Corporation N.V. The outlook is stable. At the same time, we removed the ratings from CreditWatch,...

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