OREANDA-NEWS. Fitch Ratings has today assigned Russia-based Mirax Group ("Mirax") foreign currency and local currency Issuer Default ratings of 'B' with Stable Outlook and a Short-term foreign currency rating of 'B'.

A National Long-term rating of 'BBB-(minus)(rus)' with a Stable Outlook has also been assigned. Mirax has public debt of approximately RUR6.6 billion (USD245 million).

The ratings reflect Mirax's position as one of Moscow's leading developers of business class offices and premium housing, and are supported by Mirax's ability to deliver highly profitable projects as demonstrated over recent years.