Fitch withdraws Petrom ratings

Financial ratings agency Fitch has decided to stop providing ratings for SNP Petrom. Fitch Ratings affirmed Romania SNP Petrom S.A.''s ratings at Senior Unsecured ''BB'' and Short-term ''B'' and simultaneously withdrew them. The ''BB'' rating for Petrom''s 125 million-euro bond issue due in October 2006 was also affirmed and withdrawn. Another rating''s agency, Moody''s Investors Service, also withdrew the rating for Petrom at the end of June, upon request from this company, submitted as a result of privatisation. Austrian petroleum group OMV acquired 51% in Petrom last year in a deal estimated at 1.5bn euros. ZF