July 17, 2014 / 1:42 PM / 4 years ago

Fitch Affirms AHML Insurance IFS at 'BB'; Withdraws Ratings

(The following statement was released by the rating agency) MOSCOW/LONDON, July 17 (Fitch) Fitch Ratings has affirmed Russia-based OJSC AHML Insurance's (AHMLI) Insurer Financial Strength (IFS) rating at 'BB' and its National IFS rating at 'AA-(rus)' with Stable Outlook. At the same time, Fitch has withdrawn the ratings. KEY RATING DRIVERS Fitch has withdrawn the rating as AHMLI has decided to stop participating in the rating process. Therefore, Fitch will no longer have sufficient information to maintain the ratings on AHMLI. Accordingly, Fitch will no longer provide ratings or analytical coverage for AHMLI. The ratings reflect the 99.98% ownership of AHMLI by the state-owned Agency for Housing Mortgage Lending (AHML). The ratings also take into account that AHMLI does not have any guarantee or other formal support agreement either from the government or from the parent. AHMLI receives substantial non-monetary support in the form of methodological and statistical advice from AHML. Contact: Primary Analyst Anastasia Litvinova Director +7 495 956 7082 Fitch Ratings CIS Limited Valovaya Street, 26 Moscow 115054 Secondary Analyst Federico Faccio Senior Director +44 20 3530 1394 Committee Chairperson Chris Waterman Managing Director +44 20 3530 1168 Media Relations: Elaine Bailey, London, Tel: +44 203 530 1153, Email: elaine.bailey@fitchratings.com. Additional information is available on www.fitchratings.com. Applicable criteria, 'Insurance Rating Methodology', dated 13 November 2013, are available at www.fitchratings.com. Applicable Criteria and Related Research: Insurance Rating Methodology here Additional Disclosure Solicitation Status here ALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS. PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING THIS LINK: here. IN ADDITION, RATING DEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE AVAILABLE ON THE AGENCY'S PUBLIC WEBSITE 'WWW.FITCHRATINGS.COM'. PUBLISHED RATINGS, CRITERIA AND METHODOLOGIES ARE AVAILABLE FROM THIS SITE AT ALL TIMES. FITCH'S CODE OF CONDUCT, CONFIDENTIALITY, CONFLICTS OF INTEREST, AFFILIATE FIREWALL, COMPLIANCE AND OTHER RELEVANT POLICIES AND PROCEDURES ARE ALSO AVAILABLE FROM THE 'CODE OF CONDUCT' SECTION OF THIS SITE. FITCH MAY HAVE PROVIDED ANOTHER PERMISSIBLE SERVICE TO THE RATED ENTITY OR ITS RELATED THIRD PARTIES. DETAILS OF THIS SERVICE FOR RATINGS FOR WHICH THE LEAD ANALYST IS BASED IN AN EU-REGISTERED ENTITY CAN BE FOUND ON THE ENTITY SUMMARY PAGE FOR THIS ISSUER ON THE FITCH WEBSITE.

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