ING Verzekeringen N.V. -- Moody's upgrades certain ING hybrid securities following progress on restructuring plan

London, 11 March 2014 -- Moody's Investors Service today upgraded the rating of the subordinated debt with optional deferral coupon mechanism issued by ING Verzekeringen N.V. to Baa3(hyb) from Ba1(hyb). Following a corporate restructuring, this debt is now assumed by ING Insurance TopHolding N.V., a holding company which absorbed ING Verzekeringen N.V. under a statutory merger on the 1st of March 2014 and was subsequently renamed NN Group N.V. ("NN Group"). Moody's also upgraded the rating of the non-cumulative trust preferred securities issued by ING Capital Funding Trust III and guaranteed by ING Groep N.V. to Ba2(hyb) from B1 (hyb). The outlook on these ratings is negative.

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