Fitch to withdraw ratings of Russian companies subject to EU sanctions

The international rating agency Fitch cancels the ratings of Russian companies and their subsidiaries, which were under EU sanctions. This is stated in the statement of the agency.

All ratings will be withdrawn by April 15 "in order to comply with European Union sanctions."

On March 7, the agency announced that it was suspending commercial activities in Russia, including credit ratings operations. The restriction affected transactions that cover credit ratings and other services "which the Fitch Group provides in Russia through its divisions of Fitch Ratings and Fitch Solutions."

On March 15, the European Union approved the fourth package of sanctions against Russia. Within its framework, Brussels introduced a ban on the provision of services from European credit rating agencies for any Russian clients from April 15. It will primarily affect such rating agencies as the German Scope Ratings. Fitch, like other members of the global "big three" agencies - Moody's and S&P - is based in the United States .