Moody's Investors Service and Moody's Interfax Rating Agency, which is majority owned by Moody's, have today withdrawn all the ratings of Far Eastern Shipping Company ("FESCO")
(RTS: FESH) for business reasons, the ratings agency said in a statement according to Interfax.
Moody's added that the ratings were withdrawn at the request of FESCO. The issuer has no rated debt outstanding.
The following ratings are withdrawn:
- Corporate Family Rating (CFR) of B3
- Probability of Default Rating (PDR) of Caa1
- Long-term National Scale Rating (NSR) of Baa3.ru
The last rating action on FESCO was on 25 March 2009, when Moody's downgraded the company's Corporate Family Rating (CFR) from to B3 from B2 and Probability of Default Rating (PDR) to Caa1 from B3 and at the same time Interfax downgraded FESCO's long-term National Scale Rating (NSR) to Baa3.ru from A3.ru.