The rating on LeasePlan Corporation N.V. (LeasePlan) is based on its strong market position, high and stable profitability, and sound asset quality. The rating also receives support from the bank's ownership by ABN AMRO Bank N.V. (ABN AMRO; AA-/Stable/A-1+). LeasePlan is the European market leader in corporate vehicle fleet management and one of the leading global players in automotive services. By focusing on full service leasing and pursuing a dynamic expansion strategy, Standard&Poor's expects LeasePlan to maintain its leading position in the European market. Although owned by ABN AMRO, LeasePlan is run independently and will not be integrated into the group. Following a group reorganization in 2000, the operations of LeasePlan were not included in the revised strategic
