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S&P revises outlook on Ireland-based Depfa Bank

S&P Global Ratings on Sept. 24 affirmed the A-/A-2 long- and short-term issuer credit ratings of Ireland-based Depfa Bank plc and revised the outlook on the long-term rating to negative from stable.

The outlook revision comes after the bank's owner, German bad bank FMS Wertmanagement AöR, announced a plan to explore a potential sale of the bank. The agency said a sale could be challenged by a number of factors, with FMSW's strategic review being a source of uncertainty.

The agency also noted that it expects FMSW to ultimately decide against a sale since the potential sale price might be too low given that Depfa's remaining portfolio is still of strong quality.

This S&P Global Market Intelligence news article may contain information about credit ratings issued by S&P Global Ratings. Descriptions in this news article were not prepared by S&P Global Ratings.