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Fitch affirms Avtovaz OAO at B- and withdraws ratings


Wednesday, 15 Jan 2014 07:02am EST 

Avtovaz OAO:Fitch Ratings has affirmed Russia-based automotive producer Avtovaz OAO's long-term foreign and local currency Issuer Default Rating (IDR) at B-, short-term foreign and local currency IDR at B and national long-term rating at BB(rus).Fitch has also affirmed the senior unsecured rating at B-/RR4.The outlooks on the long-term ratings are Stable.Fitch has withdrawn the ratings as AvtoVAZ has chosen to stop participating in the rating process.Therefore, Fitch will no longer have sufficient information to maintain the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 AvtoVAZ. 

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