Fitch affirms IC Russ-Invest

Fitch Ratings said it affirmed OJSC Investment Co. IC Russ-Invest's long-term issuer default rating at B, national long-term rating at BBB-(rus) and short-term issuer default rating at B.

The outlook is stable.

The ratings reflect the high revenue volatility, which is driven by significant exposure to Russian market risk and the potential corporate governance concerns surrounding a relatively small company owned by management, Fitch said.

The ratings also reflect the absence of any debt or other material external finance at IC Russ-Invest, the agency said.

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