Fitch Withdraws Lincoln Financing Holdings Pte. Limited's 'BB-' Rating
Fri 26 May, 2023 - 12:32 ET
Fitch Ratings - Frankfurt am Main - 26 May 2023: Fitch Ratings has withdrawn Lincoln Financing Holdings Pte. Limited's (LFHPL) Long-Term Issuer Default Rating of 'BB-' with Stable Outlook.
LeasePlan Corporation N.V. (BBB /Stable) was LFHPL's only significant asset until 22 May 2023. The notes guaranteed by LFHPL and issued by Lincoln Financing S.a.r.l. were repaid with upstreamed dividends from LeasePlan in January and April 2023 ahead of LeasePlan's acquisition by ALD S.A. (BBB /Stable) on 22 May 2023. See Fitch Upgrades ALD and LeasePlan Senior Unsecured Debt to 'A-'; Affirms IDRs at 'BBB '/Stable, published on 22 May 2023 at
fitchratings.com.
Fitch will no longer have sufficient information to maintain the rating. Accordingly, Fitch will no longer provide ratings or analytical coverage for LFHPL.
Key Rating Drivers
No longer relevant, as the ratings have been withdrawn.
No longer relevant, as the ratings have been withdrawn.