Fitch might cut Norddeutsche Landesbank

Fitch Ratings said it placed Norddeutsche Landesbank Girozentrale's A- long-term issuer default rating, F1 short-term issuer default rating, bb viability rating and 1 support rating on rating watch negative.

The bank's non-guaranteed debt and deposit ratings were also placed on rating watch negative.

The agency said the placement of the support-driven ratings on rating watch negative follows Norddeutsche Landesbank Girozentrale's announcement that it has received four offers from investors to buy minority stakes in the bank and reflects Fitch's view that the ratings would be downgraded if a minority ownership by private-sector investors weakens the long-term commitment and propensity of its public-sector owners to support the bank.

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