OREANDA-NEWS.  Fitch Ratings has affirmed Steel Authority of India Limited's (SAIL) Long-Term Foreign-Currency Issuer Default Rating (IDR) at 'BB'. The Outlook is Negative.

Fitch has simultaneously chosen to withdraw the rating for commercial reasons. Accordingly, Fitch will no longer provide ratings or analytical coverage for SAIL.

KEY RATING DRIVERS
See rating action commentary "Fitch Downgrades Steel Authority of India to 'BB'; Outlook Negative", dated 1 April 2016 and available at www.fitchratings.com

RATING SENSITIVITIES
No longer relevant as the rating has been withdrawn.