Moody's withdraws IUD's ratings

Moody’s Investors Service said yesterday that it has withdrawn its ratings on the Industrial Union of Donbas, at the request of IUD. Moody’s had assigned a ‘B1’ corporate rating in foreign and local currency to IUD in January. Last week Friday, Fitch Ratings downgraded the long-term issuer default rating on IUD to ‘B-‘ (outlook negative) and recalled its ratings on the issuer. IUD is a metals & mining holding company that includes Alchevsk Iron & Steel, Alchevsk Coke and Dzerzhinskogo Steel.