Fitch Ratings plans to withdraw the ratings on Laos in approximately 30 days from the date of this commentary for commercial reasons.
Fitch currently rates Laos as follows:
– Long-Term Foreign-Currency Issuer Default Rating (IDR) at ‘CCC-’;
– Long-Term Local-Currency IDR at ‘CCC’
– Short-Term Foreign-Currency IDR at ‘C’
– Short-Term Local-Currency IDR at ‘C’
– Country Ceiling at ‘B-’
Fitch reserves the right in its sole discretion to withdraw or maintain any rating at any time for any reason it deems sufficient. Fitch believes that investors benefit from increased rating coverage by Fitch and is providing approximately 30 days’ notice to the market of the rating withdrawal of Laos. Ratings are subject to analytical review and may change up to the time Fitch withdraws the ratings.
Fitch’s last rating action for the above referenced entity was on 4 August 2022. The Long-Term Foreign-Currency IDR was downgraded to ‘CCC-’ from ‘CCC’, while the Long-Term Local-Currency IDR was affirmed at ‘CCC’ and the Country Ceiling at ‘B-‘.