Fitch may cut PIK

Fitch Ratings said it revised the rating watch on OJSC PIK Group's long-term issuer default rating of CCC and short-term issuer default rating of C to negative from evolving.

The ratings continue to reflect concerns about the company's ability to repay its short-term debt, Fitch said. It faces sizeable debt maturities over the short-term, and Fitch said the company may not have sufficient liquidity to meet the obligations.

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