Ownership by ABP and PGGM, two major pension funds, enhances NIB Capital Bank N.V's (NIBC) business opportunities and financial flexibility; Improving risk profile following a reduction in exposure to the shipping and aviation sectors; and NIBC's strong and relatively pure capital base is expected to be maintained. Specialized and limited franchise; Revised strategic focus could have knock-on impact of higher costs as focus moves to client relationships away from being product driven; and Recent earnings performance dampened by market events and turbulence, and still recovering. The ratings on Netherlands-based NIBC reflect the bank's ownership by two major European pension funds, ABP and PGGM. NIBC's ratings also benefit from it recent sound loan-loss experience, firm capitalization, and conservative management. NIBC is
