TOKYO (Standard&Poor's CreditWire) July 21, 2000--Standard&Poor's on July 20 affirmed its double-'A'-minus insurer financial strength rating and counterparty credit ratings on Japan-based ING Life Insurance Co. Ltd., and removed the ratings from CreditWatch. The outlook for the counterparty rating is stable. The ratings actions result from the affirmation of the ratings on the company's Amsterdam-based parent, ING GROEP N.V. and on all entities of the ING Insurance Group. ING Life's ratings were placed on CreditWatch on June 8, due to a potential change in the level of implicit support accorded to ING Life by its ultimate parents, ING GROEP and ING Insurance Group. The ratings of the parent companies were placed on CreditWatch owing to concerns
