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Fitch to withdraw ratings on all Russian entities -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: Moscow International Business Centre (also known as Moskva-City) rises above the Moscow skyscrapers on April 23, 2018. This picture was taken over a long exposure. REUTERS/Anton Vaganov

(Reuters) – Fitch has announced that it will remove ratings for all Russian entities, and any subsidiaries, in compliance with European Union sanctions. This was as a result of Western countries tightening their grip on Moscow’s economy.

According to company statements, the ratings will be cancelled before April 15th. Fitch Group, its parent company has already stopped commercial operations in Russia this month.

The latest move comes days after credit ratings firm S&P Global (NYSE:) Ratings also announced its intention to withdraw ratings for all Russian entities before April 15.

Many multinational corporations across all sectors have started to withdraw from Russia. This is in response to government pressure and the threat of Russia’s invasion of Ukraine.

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