Fitch to withdraw ratings on Russian companies under sanctions

In order to comply with European Union sanctions, Fitch Ratings intends to withdraw its ratings on all relevant Russian entities and their subsidiaries, Report informs referring to the rating agency.

The ratings will be withdrawn in advance of the April 15 deadline imposed by the EU.

On March 7, 2022, Fitch Group announced the suspension of its commercial operations in Russia.

On March 15, 2022, the EU announced a ban on providing credit ratings to legal persons, entities, or bodies established in Russia.