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Aug 29 (Reuters) - (The following statement was released by the rating agency)
Fitch Ratings has affirmed and simultaneously withdrawn South Oil LLP’s National Long term rating of ‘BB+(kaz)’ with a Stable Outlook.
The rating has been withdrawn as the agency no longer has sufficient information to maintain it because South Oil has chosen to stop participating in the rating process. Fitch will no longer provide ratings or analytical coverage for South Oil.
South Oil is a Kazakh small private oil producer, with 2012 output of 15 thousand barrels of oil per day, less than 1% of the country’s total.