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Fitch revises Rusal ratings’ outlook to negative, withdraws ratings

April 11, 17:36 updated at: April 11, 19:01 UTC+3

Fitch has revised the outlook on ratings of the Russian aluminum producer Rusal to negative

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© EPA/ANDREW GOMBERT

MOSCOW, April 11. /TASS/. Fitch has revised the outlook on ratings of the Russian aluminum producer Rusal to negative and has withdrawn ratings at the same time. Ratings were BB-as of revocation time, the international rating agency said.

"These rating actions follow the sanctions imposed on Rusal by the Office of Foreign Assets Control (OFAC) of the US Department of the Treasury," Fitch said.

"Rusal will be impacted by the sanctions as the number of counterparties that will be able and willing to provide procurement, marketing, funding or treasury services to the group is likely to be significantly reduced," the rating agency reports.

Moody’s withdrew Rusal ratings earlier, having explained its decision by business reasons.

On April 6, the US authorities imposed sanctions against a number of Russian officials, businessmen and companies, including Rusal.

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