July 23, 2014 / 10:13 AM / 3 years ago

RPT-Fitch Affirms & Withdraws Moscow Integrated Power Company's Ratings

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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Long-term foreign and local currency Issuer Default Ratings (IDR) at 'BB' with Negative Outlooks and simultaneously withdrawn the ratings.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Fitch has withdrawn MIPC's ratings as the issuer has chosen to stop participating in the rating process.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Long-term foreign currency IDR affirmed at 'BB', Outlook Negative; withdrawn

Long-term local currency IDR affirmed at 'BB', Outlook Negative; withdrawn

Long-term National Rating affirmed at 'AA-(rus)', Outlook Negative; withdrawn

Short-term foreign currency IDR affirmed at 'B'; withdrawn

Short-term National Rating affirmed at 'F1+(rus)'; withdrawn

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