Fitch affirms Dexia Credit Local

Fitch Ratings said it affirmed Dexia Credit Local's long-term issuer default rating at BBB+ and short-term issuer default rating at F2.

The outlook is stable.

The ratings reflect a view of a high probability that Dexia will continue to be supported by Belgium (AA-/stable) and France (AA/stable), if required to complete the orderly wind-down of the bank, the agency said.

Both sovereigns are main shareholders of parent Dexia SA/NV as a result of a €5.5 billion capital injection in 2012.

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