Fitch affirms LeasePlan

Fitch Ratings said it affirmed LeasePlan Corp. NV's long-term issuer default rating at BBB+ and viability rating at bbb+ and removed them from rating watch positive.

The agency also affirmed the long-term rating of Lincoln Finance Ltd.'s senior secured notes at BB- and the long-term issuer default rating of the notes' guarantor, Lincoln Financing Holdings Pte Ltd., at BB-.

The outlooks are stable.

Fitch said the actions follow LeasePlan's statement that its shareholders have decided not to proceed at present with the planned initial public offering it announced on Oct. 4, on account of market conditions.

The removal of the rating watch reflects the reduced near-term likelihood of LeasePlan's financial flexibility improving, as Fitch had expected from an IPO, the agency said.

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