(The following statement was released by the rating agency)
Dec 20 - Fitch Ratings has withdrawn the City of Siena’s ‘BBB+’ Long-term foreign and local currency ratings with Negative Outlooks and ‘F2’ Short-term foreign currency rating.
Fitch has withdrawn the ratings as Siena has chosen to stop participating in the rating process.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 Siena.