Fitch affirms Kazanorgsintez

Fitch Ratings said it has affirmed OJSC Kazanorgsintez's long-term foreign currency issuer default rating at CCC, short-term foreign currency issuer default rating at C and senior unsecured rating at C (RR6).

The rating action reflects the company's weak capital structure and the potential refinancing risk beyond 2013, the agency said.

Fitch added that the company's debt burden remains heavy and its credit metrics, deleveraging capacity and ability to refinance after 2013 are vulnerable to cyclical downturns.

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