NEW YORK - (Business Wire) Fitch Ratings has withdrawn its ratings on Fremont Investment & Loan (FIL) as follows:
--Long-term Issuer Default Rating (IDR) of 'CC';
--Long-term deposit rating of 'CCC'/RR4;
--Short-term deposit rating of 'C';
--Short-term IDR of 'C';
--Individual rating of 'F';
--Support rating of '5';
--Support floor of 'NF'.
Fitch's action follows today's announcement that CapitalSource Inc. (rated 'BBB-' by Fitch) has assumed all the deposit liabilities of FIL through its wholly-owned subsidiary, CapitalSource Bank. Fitch will no longer provide ratings or analytical coverage on Fremont Investment & Loan.
Fitch's rating definitions and the terms of use of such ratings are available on the agency's public site, www.fitchratings.com. Published ratings, criteria and methodologies are available from this site, at all times. Fitch's code of conduct, confidentiality, conflicts of interest, affiliate firewall, compliance and other relevant policies and procedures are also available from the 'Code of Conduct' section of this site.
Fitch Ratings, New York
Vincent Arscott, CFA, 212-908-0872
Doriana Gamboa, 212-908-0865
or
Media Relations:
Sandro Scenga, 212-908-0278
