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Fitch to withdraw Russian national scale ratings

Fitch Ratings decided to withdraw national scale ratings in Russia as they are no longer usable for regulatory purposes after a new regulatory framework of the credit ratings industry was introduced in the country.

Fitch said Dec. 23 that it will withdraw approximately 150 public Russian national scale ratings by March 31, 2017. The agency added that it "maintains and looks forward to a continuing open and constructive dialogue with the Central Bank of Russia."