On July 8, 2005, Standard&Poor's Ratings Services placed its 'A+/A-1' long- and short-term counterparty credit and certificate of deposit ratings on Netherlands-based NIB Capital Bank N.V. on CreditWatch with negative implications. The rating action reflects the announcement on July 7, 2005, that NIB Capital N.V. (NIB)--of which NIB Capital Bank is the major subsidiary--its shareholders, and a consortium led by J.C. Flowers&Co. LLC have entered into exclusive discussions concerning a possible acquisition of NIB. This development follows NIB's confirmation earlier this year that management was considering a number of strategic options including an IPO and a merger. Based in The Hague, NIB Capital Bank is a wholesale bank specialized in providing corporate finance, risk management, and
