Fitch: Discover Financial unaffected

Fitch Ratings said Discover Financial Services' decision to sell Goldfish, its U.K. credit card business, to Barclays Bank for $70 million will have no implications on the company's ratings. The consumer credit environment in the United Kingdom has been decidedly weaker than the United States, and Discover Financial has experienced increased losses that have resulted in negative profitability for the segment since 2005.

While the $190 million to $210 million of after-tax charges associated with the sale are not positive, the agency believes the decision to exit the U.K. market will have a positive effect on Discover Financial's profitability and consolidated asset quality metrics.

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