Fitch may withdraw from the assignment companies to the Russian national scale ratings

MOSCOW, February 29. International rating Agency Fitch may refuse to assign to Russian companies national scale ratings to avoid conflict with the norms of Russian and international legislation. About it the Bloomberg Agency was reported by the head of the analytical service Fitch Ian Linnell.

According to Linnell, ratings of Russian companies on the national scale is at odds with the sanctions policy of the USA and Britain against Moscow.

“We, as a global company, significant activities which are concentrated in the jurisdiction of the United States, find themselves in a situation where we either break the Russian legislation or norms of international law”, – he explained.

In particular, the requirements of the sanctions regime may contradict the provisions of Russian law on rating agencies, according to which ratings on the national scale may not be revoked or modified in respect of decisions of foreign authorities, said Linnell.

In this case the top Manager of the Agency expects that after the entry into force of this law, the Russian branch of the Fitch will assess companies on the international scale, and will focus on organizations that are planning to raise funds abroad.