Fitch affirms BRE Leasing

Fitch Ratings said it affirmed BRE Leasing's issuer default rating at A-, short-term rating at F2 and support rating at 1.

The outlook remains stable.

The ratings are based on the very high potential support from its ultimate parent, Commerzbank AG (rated A with stable outlook), in case of need, Fitch said.

Leasing is a dynamically expanding business in Poland, but competitive pressures are growing, which has been reflected in lower margins on new transactions, the agency said.

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