OREANDA-NEWS. Fitch Ratings plans to withdraw the City of Madrid's ratings on 30 December 2015 for commercial reasons.

Fitch currently rates City of Madrid as follows:
- Long-term foreign and local currency Issuer Default Ratings (IDR) 'BBB+'; Outlook Stable
- Short-term foreign currency IDR 'F2'

Fitch reserves the right in its sole discretion to withdraw or maintain any rating at any time for any reason it deems sufficient. Fitch believes that investors benefit from increased rating coverage by Fitch and is providing approximately 30 days' notice to the market on the withdrawal. Ratings are subject to analytical review and change up to the time Fitch withdraws the ratings.

Fitch's last rating action on the City of Madrid was on 25 September 2015 when we affirmed the ratings.