Fitch upgrades Teller to BB

Fitch Ratings said it upgraded Teller AS' long-term issuer default rating to BB from BB- and affirmed its short-term issuer default rating at B.

The outlook is positive.

Fitch said the upgrade reflects materially lower group leverage following the recent IPO of Nets A/S, Teller's ultimate parent.

The positive outlook is driven by the agency’s expectation that group leverage will continue to gradually decline.

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