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EUROPE
* Fitch Ratings affirmed the AA-/F1+ long- and short-term issuer default ratings of German cooperative banking network Genossenschaftliche FinanzGruppe and its central institution DZ Bank AG, with a stable outlook on the long-term ratings. Genossenschaftliche FinanzGruppe's "aa-" viability rating, 5 support rating and No Floor support rating floor were affirmed as well. Additionally, Fitch affirmed the AA-/F1+ long- and short-term issuer default ratings of the banking members of the 870 local bank members of Genossenschaftliche FinanzGruppe's support scheme, DZ Hyp AG, DVB Bank SE and DZ Privatbank. The outlook on the long-term ratings is stable.
* Fitch affirmed the A+/F1+ long- and short-term issuer default ratings of German savings bank group Sparkassen-Finanzgruppe, with a stable outlook on the long-term rating. The agency also affirmed its "a+" viability rating, 5 support rating and No Floor support rating floor. The A+/F1+ long- and short-term issuer default and deposit ratings of 326 saving banks members of Sparkassen-Finanzgruppe was also affirmed by the agency. Furthermore, the ratings of five savings banks — Stadtsparkasse Bad Honnef, Stadtsparkasse Schmallenberg, Sparkasse Finnentrop, Sparkasse Noerdlingen and Sparkasse Celle — were withdrawn due to their mergers with other members of the group.
* Fitch affirmed the A+ long-term issuer default rating and "a+" viability rating of German banking group Sparkassen-Finanzgruppe Hessen-Thüringen, with a stable outlook on the long-term rating. Fitch also affirmed the issuer default ratings of the 49 savings banks members of the group and its central institution Landesbank Hessen-Thüringen Girozentrale, or Helaba.
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