LONDON (Standard&Poor's) June 20, 2006--Standard&Poor's Ratings Services said today that it raised its counterparty credit ratings on Netherlands-based private bank F. van Lanschot Bankiers N.V.'s (Van Lanschot) to 'A/A-1' from 'A-/A-2'. The outlook is stable. The upgrade reflects Van Lanschot's stronger business profile following the smooth integration of CenE Bankiers N.V. (CenE; not rated) over the course of 2005. "The upgrade also acknowledges Van Lanschot's continuing sound financial profile and strategic focus," said Standard&Poor's credit analyst Claire Curtin. Standard&Poor's expects Van Lanschot to maintain a solid earnings base and conservative lending profile, and for core capital levels to be rebuilt to preacquisition levels. Increased scale is expected through increased client penetration and
