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Stirol Responds to Fitch Concerns.

Stirol Responds to Fitch Concerns.

4 August 2008

Stirol (STIR: HOLD) announced that it would make public its 2005 IFRS financials on August 7. The statement came in response to a recent move by Fitch to put Stirol negative ratings watch due to a delay in receiving Stirol’s IFRS accounts and other concerns. The agency suspected Stirol might broken some of its debt covenants. In its announcement yesterday, Stirol said the delay was due to issues raised by its auditor (KPMG) which Stirol said did not relate to its creditworthiness. 

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