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Fitch withdraws ratings on Brazil's AgeRio

Fitch Ratings on Oct. 18 affirmed and subsequently withdrew its ratings on Brazil-based Agência de Fomento do Estado do Rio de Janeiro SA, or AgeRio, citing business reasons.

The affirmation of the company's long-term foreign and local currency issuer default ratings at CCC, prior to their withdrawal, reflects Fitch's view that the state-run agency's credit profile has not changed significantly since the last review in September.

AgeRio's short-term issuer default ratings were affirmed at C prior to the withdrawal, while its long- and short-term national ratings were affirmed at CCC and C(bra), respectively.