Fitch affirms Raspadskaya

Fitch Ratings said it affirmed OAO Raspadskaya's long-term foreign currency issuer default rating and senior unsecured rating at B+ and its national long-term rating at A(rus).

Fitch said it has simultaneously removed these ratings from rating watch negative, where they were placed on May 12, and assigned stable outlooks to the long-term issuer default rating and national long-term rating.

The short-term issuer default rating is affirmed at B while the recovery rating on the senior unsecured notes stands at RR4, the agency said.

The rating action reflects Fitch's expectations that the company's Raspadskaya mine, which was shut down as a result of an explosion in May, will be fully operational by end-Q112.

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