OREANDA-NEWS. December 21, 2009. This was announced in the communique published at the world markets on Thursday. Fitch Ratings has affirmed Moldova's Long-term foreign currency Issuer Default Rating (IDR) at 'B-' and its Long-term local currency IDR at 'B'. Both ratings have Stable Outlooks.

The agency also affirmed Moldova's Short-term foreign currency IDR at 'B' and its Country Ceiling at 'B-'. Fitch has simultaneously withdrawn all the ratings. Moldova’s Long-term foreign currency IDR of 'B-' reflects the external financing risks and the structural weaknesses of the economy, as well as the prolonged uncertainty surrounding the domestic political situation. As InfoMarket agency has reported before, in November this year International rating agency Moody's Investors Service has also reported the withdrawal of all the ratings of Moldova.

This was due to insufficient volume of reliable information to support ratings in future. Last rating of Moody's agency was assigned to Moldova on May 24, 2006, when the ceiling for the country’s foreign currency debt was lowered from Caa1 to B3 on Moody's methodology. Moldova has declared afterwards that it will resume relations with Moody's Investors Service to sign a new contract in the nearest future.

This was discussed during the meeting of the Minister of Finance of Moldova Veaceslav Negruta with representatives of Moody's at the annual meeting of the Board of Directors of the World Bank and International Monetary Fund in Istanbul.