(The following statement was released by the rating agency)
BARCELONA/LONDON, January 15 (Fitch) Fitch Ratings has affirmed
automotive producer JSC AvtoVAZ's Long-term foreign and local
Default Rating (IDR) at 'B-', Short-term foreign and local
currency IDR at 'B'
and National Long-term Rating at 'BB(rus)'. Fitch has also
affirmed the senior
unsecured rating at 'B-'/'RR4'. The Outlooks on the Long-term
Fitch has withdrawn the ratings as AvtoVAZ has chosen to stop
the rating process. Therefore, Fitch will no longer have
to maintain the ratings. Accordingly, Fitch will no longer
provide ratings or
analytical coverage for AvtoVAZ.
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to be the primary analyst for this issuer; the principal analyst
is deemed to be
Applicable criteria, Corporate Rating Methodology, dated 5
August 2013, are
available at www.fitchratings.com.
Applicable Criteria and Related Research:
Corporate Rating Methodology: Including Short-Term Ratings and
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