OREANDA-NEWS. Fitch Ratings has withdrawn the rating of DEPFA ACS Bank's (BBB/Rating Watch Negative) asset covered securities programme at 'A-'. The rating was on Rating Watch Negative (RWN) at the point of withdrawal. Fitch has chosen to withdraw the rating following the withdrawal of the issuer's IDR (see 'Fitch Withdraws DEPFA at 'BBB'; Watch Negative' on www.fitchratings.com.).

KEY RATING DRIVERS
The RWN for the covered bonds rating reflects that on DEPFA ACS Bank's IDR.

Fitch has chosen to withdraw the rating of DEPFA ACS Bank's asset covered securities because the agency will no longer have sufficient information to maintain the ratings as the issuer has chosen to stop participating in the rating process. Fitch will no longer provide a rating or analytical coverage for DEPFA ACS Bank's asset covered securities.

RATING SENSITIVITIES
Not applicable