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Grades

Fitch expects to rate ING US's new senior unsecured notes BBB-

Fitch Ratings expects to assign a BBB- rating to ING US's USD1bn planned issuance of 2.9 per cent senior notes due 2018.

The transaction is expected to close on 11 February 2013.

The net proceeds of this offering will be used for general corporate purposes, including repayment of commercial paper and amounts owed under its term loan agreement. Pro forma financial leverage is expected to remain near 27 per cent.

On 7 January 2013, Fitch affirmed all of its ratings for ING US and its subsidiaries with a Stable Outlook.


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