OREANDA-NEWS. Fitch Ratings has withdrawn MAXPower Group Pte Ltd's (MAXPower) expected Long-Term Foreign Currency Issuer Default Rating (IDR) of 'B', with a Stable Outlook. It has also simultaneously withdrawn the expected rating of 'B(EXP)' and Recovery Rating of 'RR4' on MAXPower Group Issuer Pte Ltd's (the issuer) proposed US dollar secured notes, guaranteed by MAXPower.

Fitch is withdrawing the expected ratings as MAXPower is no longer proceeding with its proposed US dollar notes issuance. Fitch's expected ratings assumed the successful refinancing of MAXPower's existing amortising bank debt with the proposed US dollar notes.