Fitch affirms Miratorg

Fitch Ratings said it has affirmed Agribusiness Holding Miratorg LLC's long-term foreign and local currency issuer default ratings at B and its national long-term rating at BBB(rus).

The outlooks are stable.

Fitch said it has also affirmed the senior unsecured rating of B-, its recovery rating of RR5 and local currency senior unsecured national rating at BB(rus) for the RUB 3 billion of three-year notes due in July 2014 issued by LLC Miratorg Finance.

According to the agency, Miratorg's long-term issuer default ratings reflect the group's vertically-integrated business model across the value chain in all stages in the production cycle from farming and feed production towards almost full control of the distribution function.

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