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Fitch withdraws Aberdeen Asset Management's ratings

Fitch Ratings on March 1 affirmed Aberdeen Asset Management Plc's long- and short-term issuer default ratings at A/F1 and simultaneously withdrew them for commercial reasons.

The long-term rating carried a stable outlook.

Aberdeen Asset Management merged with Standard Life Plc in 2017 to create Standard Life Aberdeen Plc, which is now selling its insurance business to Phoenix Group Holdings for about £3.24 billion.

Fitch said the affirmation reflects its view that the benefits of being part of a larger franchise will mitigate the execution risk of the merger and possible loss of AUM.