(The following statement was released by the rating agency)
Oct 11 - Standard & Poor's Ratings Services said today that its ratings andoutlook on ING Verzekeringen N.V. (INGV; A-/Negative/A-2) are unaffected by thecompany's announcement that it has reached an agreement to sell its Malaysianinsurance business to AIA Group Ltd. for EUR1.3 billion.
This announcement is part of what we understand will be an ongoing processby ING Groep N.V. (ING; A/Stable/A-1) to divest its Asian insurance andasset management businesses. We expect the transaction will improve INGV'sfinancial risk profile, particularly its capital adequacy initially, which weview as a current weakness in its rating profile.
(Caryn Trokie, New York Ratings Unit)