Fitch affirms Grand Bills

Fitch Ratings said it affirmed Grand Bills Finance Corp.'s long-term foreign-currency issuer default rating at BBB-, short-term foreign-currency issuer default rating at F3, national long-term rating at A(twn), national short-term rating at F1(twn) and its senior unsecured debt at A(twn).

The outlook remains negative.

Fitch said it considers the company's recent liquidity arrangement to be working to diminish the negative impact from asset-backed commercial papers on its liquidity profile.

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