Bloomberg News

Fitch Affirms FMS Wertmanagement at AAA With Stable Outlook

September 28, 2011

Sept. 28 (Bloomberg) -- FMS Wertmanagement AoR’s long-term issuer default rating was affirmed at AAA with a “stable” outlook at Fitch Ratings. FMS is an independent public law entity established to acquire 173 billion euros of non- performing and non-strategic assets from Hypo Real Estate Holding AG and its subsidiaries. Fitch sees an “extremely high likelihood” of support from Germany’s bank rescue fund, Soffin, and ultimately from the Federal Republic of Germany.

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