# Credit Rating of Rabobank/Northern Rock plc/Nationwide UK?



## Brendan Burgess (15 May 2010)

Irish banks are guaranteed by the Irish government whose credit rating is AA. 

Is Rabobank the only bank with a AAA rating in its own right? 

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Moody's:


> Rabobank's long-term global local currency (GLC) deposit rating is Aaa, reflecting a very high probability of systemic support, which is based on its key position in the Dutch banking system. Rabobank is a leading bank in the Netherlands, with significant franchises in the domestic residential mortgage market, in savings accounts and in SME lending. It also dominates the agricultural market with a share of over 80% of all lending. It is Moody's understanding that these market positions have been strengthened since the beginning of the crisis. We further note that Rabobank did not need any form of support from the Dutch government at any point during the crisis



Northern Rock PLC is now a "good bank". 
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Standard & Poor: A-2


Nationwide UK's Credit Rating 

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Standard & Poors |A-1
Moody's |P-1Is this the rating applied to deposits?


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## Duke of Marmalade (15 May 2010)

Brendan Burgess said:


> Irish banks are guaranteed by the Irish government whose credit rating is AA.


That doesn't necessarily mean that the deposit guarantee is only AA. If the government does default or (more likely) restructure its long bonds, I think it would be much further down the road before it would welsh on the deposit guarantee scheme.  Personally I would see deposits covered by the government guarantee as even better than AAA.


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