OREANDA-NEWS. Fitch Ratings has affirmed Germany-based auto group Stabilus' Long-term Issuer Default Rating (IDR) at 'B+' with Stable Outlook and subsequently withdrawn the rating. Fitch has also withdrawn the rating for the EUR256.1m senior secured notes issued by Servus Luxembourg Holding S.C.A.

Fitch is withdrawing Stabilus' ratings following the early full redemption of the notes on 16 June.

KEY RATING DRIVERS

The IDR reflects Stabilus' exposure to volatile markets and the competitive threats it faces as well as an improving business profile and rapid growth and solid profitability.

RATING SENSITIVITIES
Not applicable