Fitch affirms Fortis

Fitch Ratings said it affirmed the AA- long-term issuer default ratings and F1+ short-term issuer default ratings of the Fortis Group companies, including Fortis Bank and Fortis NV.

The outlook is stable.

The agency said the ratings reflect the group's strong franchise in the Benelux countries, profitability, capital, asset quality and conservative risk management approach.

The ratings also reflect the limited albeit improving geographic diversification of the group's bank and insurance activities, Fitch said.

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