OREANDA-NEWS. Fitch Ratings has withdrawn Kazakhstan-based Alliance Bank's ratings, as the bank has chosen to cease participating in the rating process. The ratings have been withdrawn without affirmation because Fitch does not have sufficient information from the issuer to decide on the appropriate rating level. The agency will no longer provide ratings or analytical coverage for Alliance.

Fitch downgraded Alliance to 'RD' (Restricted Default) on 31 March 2014 because the bank experienced an uncured default on its senior debt obligations. On 15 December 2014 Alliance announced completion of restructuring of its debt obligations worth approximately USD1.3bn.

The following ratings have been withdrawn without affirmation:
Long-term foreign and local currency IDRs: 'RD'
Short-term foreign and local currency IDRs: 'RD'
Support Rating: '5'
Support Rating Floor: 'No Floor'
Viability Rating: 'f'
Senior unsecured debt rating: 'C'; Recovery Rating 'RR4'
Subordinated debt rating: 'C'; Recovery Rating 'RR6'.