Fitch Upgrades Four Winds Funding Corp to 'F1' from 'F2'.
Commerzbank's upgrade reflects Fitch's view that the bank has been able to generate satisfactory levels of recurring profitability while also improving asset quality. Commerzbank's risk profile is changing; the integration of Eurohypo AG, should further stabilize revenue streams, and aggregate exposure to the real estate sector will amount to roughly half of consolidated capital. Fitch expects Commerzbank to continue focusing on earnings generation, particularly in mid-cap and retail banking to generate internal capital.
For further information regarding Commerzbank's upgrade, please see the Fitch press release dated Feb. 27, 2006, 'Fitch Upgrades Germany's Commerzbank to 'A',' available on the Fitch Ratings web site at www.fitchratings.com.
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|Date:||Feb 28, 2006|
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