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Fitch cuts Russian government-related entities
Fitch Ratings said it downgraded the long-term foreign-currency issuer default ratings to B from BBB of six Russian government-related entities and placed their IDRs and debt ratings on rating watch negative.
The downgrades follow the agency’s lowering of the Russian sovereign on Wednesday. “This has a direct impact on the affected entities' ratings as Fitch considers them as GREs of Russia, based on its GRE rating criteria. The RWN reflects that on the sovereign IDRs,” the agency said in a press release.
The affected Russian GREs are Russian Highways State Co. - Avtodor, JSC Russian Post, JSC DOM.RF, RusNano, Russian Railways JSC, Federal Passenger Co.
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