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Fitch withdraws certain N M Rothschild & Sons ratings

Fitch Ratings on Sept. 26 affirmed 's 'sviability rating at "bbb+", its support rating at 5 and its support ratingfloor at No Floor, while withdrawing them subsequently.

At the same time, the agency affirmed the lender's long- andshort-term issuer default ratings at BBB+ and F2, respectively. The outlook ispositive.

The ratings were withdrawn due to a reorganization of therated entity, notably the return of N M Rothschild & Sons' banking license,Fitch said. The positive outlook reflects the progress made in winding downlegacy assets, which Fitch believes will result in diminishing tail risk fromlegacy asset-related credit events and improving capitalization and leveragemetrics.