Fitch rates BRE Leasing

Fitch Ratings said it has assigned Poland's BRE Leasing ratings of long-term BBB+ with a positive outlook, short-term F2 and support 2. At the same time, an expected long-term local currency rating of BBB+ has been assigned to the company's PLN500 million domestic bond program.

BRE Leasing intends to issue PLN150 million under this program in June.

Fitch said the ratings for BRE Leasing and its bonds are based on potential support available to the company from its indirect majority shareholder, Commerzbank AG. Since 1999 Commerzbank has included BRE Leasing in the list of subsidiaries backed by its Patronatserklaerung (declaration of backing) published in its annual report.

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