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 a wholesale bank specialized in providing medium- and long-term capital in the form of loans and equity, and financial and advisory services to midsize and large companies, in northwest Europe. NIBC also manages a number of government-supported loan and equity investment programs, and acts as adviser to the government's privatization efforts, and in the establishment of policies or programs affecting key industrial sectors. The bank had total reported assets of €20.7 billion at mid-year 2003. NIBC's ownership by ABP and PGGM has expanded its business
