Fitch Ratings has downgraded Russia's EN+ Group long-term issuer default ratings to 'B+' following its board of directors' approval to acquire VTB Group's 21.37% stake by one of the company's subsidiaries, the agency announced in a release on Wednesday
WASHINGTON (Pakistan Point News / Sputnik - 12th February, 2020) Fitch Ratings has downgraded Russia's EN+ Group long-term issuer default ratings to 'B+' following its board of directors' approval to acquire VTB Group's 21.37% stake by one of the company's subsidiaries, the agency announced in a release on Wednesday.
"Fitch Ratings has downgraded Russia-based EN+ Group IPJSC's (EN+) Long-Term Foreign and Local Currency Issuer Default Ratings (IDR) to 'B+' from 'BB-'. The Outlook is Stable," the release said.
