Fitch to withdraw Russian issuer ratings by April 15

By Trend

Fitch Ratings intends to withdraw the ratings of all Russian organizations and their divisions in accordance with the sanctions imposed against the Russian Federation by the European Union, Trend reports citing Interfax.

As part of the fourth package of sanctions adopted by the EU countries on March 15, 2022, European agencies are prohibited from rating the Russian Federation and Russian companies, as well as from providing rating services to Russian clients.

"The ratings will be withdrawn by the 15 April deadline set by the EU," Fitch said in a press release.