LONDON (Standard&Poor's) Aug. 7, 2009--Standard&Poor's Ratings Services said today that its ratings and outlook on The Royal Bank of Scotland Group PLC (RBSG; A/Stable/A-1) and related entities are unaffected by today's announcement of an operating loss in the first half of 2009. Having revealed in 2008 the largest ever loss attributable to ordinary shareholders by a U.K. corporate, RBSG was able to report a small £15 million profit before tax for the first half of 2009. (All figures are pro forma, that is, only including those business units of ABN AMRO Bank N.V. that will be retained by RBSG). However, excluding exceptional items identified by RBSG and a £3.8 billion gain from a subordinated debt exchange,
