OREANDA-NEWS. Fitch Ratings has withdrawn Ukraine-based Industrialbank's ratings as the bank has chosen to stop participating in the rating process. The ratings have been withdrawn without affirmation because the bank has not provided Fitch with sufficient information to enable it to decide on appropriate ratings.

Fitch will no longer provide ratings or analytical coverage of Industrialbank.

The bank's 'CCC' rating reflected challenging operating environment, weak asset quality and sizeable related-party assets.