New York, June 02, 2015 -- Moody's Investors Service has today upgraded the long-term global local currency deposit rating assigned to ING Bank N.V. -- São Paulo (ING Brazil) to A1 from A2. The outlook on the rating was changed to stable from negative. At the same time, Moody's affirmed ING Brazil's foreign currency deposit ratings of Baa2 and P-2, short term global local currency deposit rating of P-1, and Brazilian national scale deposit ratings of Aaa.br and BR-1. Moody's also assigned long- and short-term CR Assessments of A1(cr) and P-1(cr) respectively to ING Brazil. The outlook on the foreign currency deposit ratings is negative, in line with the outlook on Brazil's sovereign rating.

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