Fitch Affirms the Ratings of Kaupthing Bank at 'A'; Outlook Stable
Fitch Ratings has affirmed Kaupthing Bank's ("Kaupthing") ratings at Long-term Issuer Default 'A', Short-term 'F1', Individual 'B/C' and Support '2'. The Outlook on the Long-term Rating ("IDR") is Stable. The Support Rating Floor was affirmed at 'BBB'.
Fitch states: "The ratings of Kaupthing reflect its strong position in the Icelandic market, the improved diversification of its profits and assets, its good asset quality, its satisfactory capitalisation and underlying profitability."