Fitch Ratings has affirmed and withdrawn
The rating on MIE's
The ratings were withdrawn with the following reason: For Commercial Purposes
KEY RATING DRIVERS
The IDR was affirmed at 'C' because MIE was unable to pay the semi-annual coupon of
RATING SENSITIVITIES
Rating sensitivities are no longer relevant as the ratings have been withdrawn.
BEST/WORST CASE RATING SCENARIO
International scale credit ratings of Non-Financial Corporate issuers have a best-case rating upgrade scenario (defined as the 99th percentile of rating transitions, measured in a positive direction) of three notches over a three-year rating horizon; and a worst-case rating downgrade scenario (defined as the 99th percentile of rating transitions, measured in a negative direction) of four notches over three years. The complete span of best- and worst-case scenario credit ratings for all rating categories ranges from '
REFERENCES FOR SUBSTANTIALLY MATERIAL SOURCE CITED AS KEY DRIVER OF RATING
The principal sources of information used in the analysis are described in the Applicable Criteria.
ESG CONSIDERATIONS
The highest level of ESG credit relevance, if present, is a score of 3. This means ESG issues are credit-neutral or have only a minimal credit impact on the entity(ies), either due to their nature or to the way in which they are being managed by the entity(ies). For more information on Fitch's ESG Relevance Scores, visit www.fitchratings.com/esg.
RATING ACTIONS
ENTITY/DEBT RATING RECOVERY PRIOR
MIE Holdings Corporation LTIDR C Affirmed C
LT IDR WD Withdrawn C
senior unsecured
LTC Affirmed RR6 C
senior unsecured
LT WD Withdrawn C
VIEW ADDITIONAL RATING DETAILS
Additional information is available on www.fitchratings.com
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