Fitch withdraws Commerzbank's ratings

Fitch Ratings withdrew the ratings of Germany-based Commerzbank AG for commercial reasons.

The agency affirmed the lender's BBB/F2 long- and short-term issuer default ratings, BBB+/F1 long- and short-term deposit ratings, BBB+(dcr) derivative counterparty rating "bbb" viability rating, 5 support rating and No Floor support rating floor before withdrawing them.

The long-term issuer default ratings had a negative outlook at the time of withdrawal.

The negative outlook on the rating reflects the agency's view that there could be downside risks to the lender's capitalization and profitability due to the challenging environment. Additionally, Fitch said the lender's planned branch reduction could weaken its profile and negatively affect revenue generation.