counterparty rating of ABN Amro to AA from AA-minus. S&P said the ratings reflect ABN Amro's position as the largest bank group in the Netherlands, a satisfactory and improving operating profitability, and adequate capital position. The group's asset quality has remained strong, said S&P, notwithstanding the negative impact of the latest recession; while provisioning expenses and chargeoffs increased moderately over the last few years, they remained at an overall low level.

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