Fitch affirms Teller

Fitch Ratings said it affirmed Teller AS's long-term issuer default rating at BB+, along with its short-term issuer default rating of B.

The outlook is stable.

The ratings reflect its strong franchise in Norwegian card payments, low credit risk of its operations and satisfactory profitability, Fitch said.

They also consider its small capital base, lack of business diversification, growing competition and exposure to operational risk, the agency said.

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