Fitch withdraws Russia’s ratings

By Trend

Fitch Ratings has withdrawn Russia’s ratings, the international rating agency reported on its website, Trend reports with reference to TASS.

"Fitch Ratings has withdrawn Russia's ratings. The withdrawals are for sanction-related reasons," the agency said. Russia's issuer default ratings in national and foreign currency were at ‘C’ level.

Fitch has performed its rating action on Russia’s sovereign rating ahead of schedule following its decision to withdraw the ratings of Russian entities and their subsidiaries by April 15, the agency noted.

On March 15, the European Union banned providing credit ratings to legal entities, organizations and bodies established in Russia.