Fitch affirms, withdraws GetBack

Fitch Ratings said it affirmed and withdrew GetBack SA's long-term issuer default rating at RD (restricted default).

The agency withdrew GetBack's rating for commercial reasons.

“Since April 2018 GetBack has experienced an uncured payment default on a number of its bonds, and has subsequently entered restructuring proceedings in the Polish courts,” Fitch said in a news release.

The agency said the affirmation reflects a view that although the company has experienced an uncured payment default on its bonds, it has to date not entered into bankruptcy filings, administration, receivership, liquidation or other formal winding-up procedure.

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