S&P Global Ratings on Oct. 12 upgraded NIBC Bank NV's long- and short-term counterparty credit ratings to BBB/A-2 from BBB-/A-3 and revised the outlook to stable from positive.
The agency also upgraded the bank's foreign-currency certificate of deposit and its senior unsecured rating to BBB from BBB-.
The upgrade reflects the gradual balancing of the bank's funding profile over recent years, which has increased its overall resiliency, according to S&P.
The outlook revision is based on S&P's view that the bank will maintain its niche franchise, strong capitalization, similar risk appetite and sound asset quality.
S&P Global Ratings and S&P Global Market Intelligence are owned by S&P Global Inc.