Fitch Withdraws Sistema-Hals Ratings
January 27, 2010 Fitch Ratings
Fitch Ratings-London/Moscow-27 January 2010: Fitch Ratings has today withdrawn JSC Sistema-Hals’ (SH) ratings. Fitch will no longer provide ratings or analytical coverage of the Russia-based property developer.
The ratings were as follows at the time of their withdrawal:
Long-term Issuer Default Rating (IDR): 'CCC'; Rating Watch Negative
Short-term IDR: 'C'
National Long-term rating ‘B-(rus)’; Rating Watch Negative
SH's Long-term IDR and National Long-term ratings were placed on RWN on 27 October 2009 to reflect the possibility of the occurrence of a coercive debt exchange (CDE) resulting from SH debt being repaid at less than par during an ongoing restructuring.
Company — Hals-Development
Full namePJSC Hals-Development
IndustryConstruction and development