We regard Dutch bank LeasePlan Corporation N.V. as less strategic to Germany-based automaker Volkswagen AG (VW), than we previously thought. However, we have noted positive developments in LeasePlan's stand-alone credit profile (SACP). We are placing our 'BBB+/A-2' ratings on LeasePlan on CreditWatch with negative implications. We might affirm the ratings or lower them by one notch within the next 90 days, depending on our review of the SACP. PARIS (Standard&Poor's) Sept. 29, 2014--Standard&Poor's Ratings Services said today that it has placed its 'BBB+/A-2' long- and short-term counterparty credit ratings on Dutch bank LeasePlan Corporation N.V. on CreditWatch with negative implications. We have placed the ratings on CreditWatch with negative implications while we assess the impact of
