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Ratings agency Fitch has withdrawn its ratings of engineering and construction company Essar Projects Ltd’s debt, saying the company has chosen to stop participating in the rating process. It has withdrawn its ‘B-’ rating of Essar Projects’ long-term foreign currency issuer default rating (IDR) and ‘B’ rating on short-term IDR. Fitch said it will no longer have sufficient information to maintain the ratings and will no longer provide ratings or analytical coverage for Essar Projects.
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