Fitch affirms Discover

Fitch Ratings said it affirmed Discover Financial Services as follows: long-term issuer default rating at BBB, short-term issuer default rating at F2, senior debt at BBB, individual at B/C and support at 5.

The outlook is stable.

Fitch noted that the affirmation reflects the sound credit card franchise, improved portfolio credit quality metrics relative to other major credit card companies, solid liquidity, adequate capital levels for the assigned rating category and successful transition to a stand-alone entity.

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