Fitch gives Sitronics bond B-

Fitch Ratings said it has assigned Concern Sitronics JSC's domestic bond issue totaling RUR 3 billion and with headline maturity of three years, a senior unsecured foreign currency rating of B-.

Fitch noted that Sitronics is currently rated long-term issuer default B- with a negative outlook.

The bond constitutes senior unsecured obligations of Sitronics, the agency said, adding that the bond prospectus does not contain any financial or other covenants.

Sitronics' ratings continue to be underpinned by its leading position and established franchise within the Russian micro-electronics business, the agency said.

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