Fitch Ratings on Oct. 15 affirmed LeasePlan Corp. NV's BBB+/F2 long- and short-term issuer default ratings and removed them from Rating Watch Positive, where they were placed Oct. 5.
The outlook on the long-term issuer default rating is stable.
The Dutch auto leasing company's "bbb+" viability rating, BBB+ long-term senior unsecured debt rating were also affirmed and removed from Rating Watch Positive, while its support rating was affirmed at 5.
The ratings actions follow an Oct. 11 announcement that LeasePlan Group, LeasePlan Corp.'s parent, decided to call off a planned listing of its shares on Euronext in Amsterdam and Brussels due to market conditions.
Fitch said the removal from Rating Watch Positive reflects the reduced near-term likelihood of LeasePlan's financial flexibility improving, as the agency expected from an IPO.