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July 23 (Reuters) - (The following statement was released by the rating agency)
Fitch Ratings has affirmed OJSC Moscow Integrated Power Company's (MIPC) Long-term foreign and local currency Issuer Default Ratings (IDR) at 'BB' with Negative Outlooks and simultaneously withdrawn the ratings. A full list of ratings actions is at the end of this release.
Fitch has withdrawn MIPC's ratings as the issuer has chosen to stop participating in the rating process.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 MIPC.
The ratings actions are as follows:
Long-term foreign currency IDR affirmed at 'BB', Outlook Negative; withdrawn
Long-term local currency IDR affirmed at 'BB', Outlook Negative; withdrawn
Long-term National Rating affirmed at 'AA-(rus)', Outlook Negative; withdrawn
Short-term foreign currency IDR affirmed at 'B'; withdrawn
Short-term National Rating affirmed at 'F1+(rus)'; withdrawn