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Fitch withdraws ratings of 6 German savings banks

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Fitch withdraws ratings of 6 German savings banks

Fitch Ratings on Oct. 17 withdrew the A+/F1+ long- and short-term issuer default ratings and deposit ratings of five German banks as they no longer exist as separate entities following their mergers with other entities.

The outlooks on the long-term ratings were stable at the time of withdrawal.

The banks affected are Kreissparkasse Schongau, Sparkasse Hennstedt-Wesselburen, Stadtsparkasse Wetter (Ruhr), Sparkasse Erwitte-Anröchte and Kreissparkasse Höchstadt a.d. Aisch, which merged with other members of Sparkassen-Finanzgruppe.

Also withdrawn were the A+/F1+ long- and short-term issuer default ratings and AA-/F1+ long- and short-term deposit ratings on Stadtsparkasse Felsberg, which merged with another member of S - Finanzgruppe Hessen-Thüringen on April 1. Landesbank Hessen-Thüringen Girozentrale, or Helaba, is the central institution of S - Finanzgruppe Hessen-Thüringen.