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July 2 (Reuters) - (The following statement was released by the rating agency)
Fitch Ratings expects to withdraw its ratings of Stora Enso Oyj (Stora Enso) after a 30-day period beginning today as they are no longer considered by Fitch to be relevant to the agency’s coverage. Fitch will continue to maintain coverage of Stora Enso prior to withdrawal.
Fitch’s ratings on Stora Enso are unsolicited and have been provided by us as a service to investors. Fitch reserves the right in its sole discretion to withdraw or maintain any rating at any time for any reason it deems sufficient. Fitch may elect to maintain coverage based on investor feedback. Fitch will only provide ratings where it has sufficient information to rate the issuer or transaction.
This advance notice is provided to permit further investor feedback to Fitch and for the benefit of users in managing their use of Fitch’s ratings.
Fitch rates Stora Enso as follows:
Long-term Issuer Default Rating (IDR): ‘BB-'; Outlook Stable
Senior unsecured rating: ‘BB-'