(Repeat for additional subscribers)
Sept 27 (The following statement was released by the rating agency)
Fitch Ratings has affirmed and simultaneously
withdrawn Orbis's National Long term rating at 'BBB+(pol)' with a Stable
Fitch has withdrawn the rating as Orbis has chosen to stop participating in the
rating process. Therefore, Fitch will no longer have sufficient information to
maintain the ratings. Accordingly, Fitch will no longer provide ratings or
analytical coverage for Orbis.
Orbis is Poland's largest hotel company with 61 hotels under Accor and Orbis
brands and operations spanning upscale, mid-scale and economy segments. The
company is controlled by Accor SA (BBB-/Stable) who owns 52.7% of Orbis's shares
as of 30 June 2013.