Fitch Downgrades Russian Insurance Centre to 'B-'; Withdraws Ratings

April 23, 2015 4:11 PM

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(The following statement was released by the rating agency) MOSCOW/LONDON, April 23 (Fitch) Fitch Ratings has downgraded Russian Insurance Centre (Russia)'s (RIC) Insurer Financial Strength (IFS) rating to 'B-' from 'B' and National IFS rating to 'BB-(rus)' from 'BBB-(rus)'.

The Outlook on the ratings is Negative. Fitch is simultaneously withdrawing the ratings, as the agency has not been able to obtain sufficient information to maintain them. Accordingly, Fitch will no longer provide ratings or analytical coverage for RIC. KEY RATING DRIVERS The downgrade of the rating...

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