The ING group announced that it has revised the base case for the divestment of its European and Asian insurance and investment management businesses. As a result, the Asian insurance and investment management businesses are likely to be divested separately from the European businesses before the end of 2013. Therefore, we removed one notch of support to the stand-alone credit profile on ING Life Japan and lowered the ratings to 'BBB+'. The outlook is developing, reflecting uncertainty over ING Life Japan's future ownership and downside risks to its business and financial profile due to the planned separation from the group. TOKYO (Standard&Poor's) Jan. 19, 2012--Standard&Poor's Ratings Services today lowered its financial strength and counterparty credit ratings
