The financial profile of Dutch bank LeasePlan has proven more resilient to the economic and financial downturn than we previously anticipated. We expect the bank's earnings to rebound in 2010 and 2011 from the low point in 2009 and capitalization to remain strong. We are revising the outlook on LeasePlan to stable from negative and, at the same time, affirming the 'BBB+' long-term and 'A-2' short-term ratings on the company. The stable outlook reflects our view that the recent improvements in earnings and capitalization are sustainable and that the pressure on the bank's funding profile is gradually easing. FRANKFURT (Standard&Poor's) Oct. 27, 2010--Standard&Poor's Ratings Services said today that it revised its outlook on Dutch-based LeasePlan Corporation
