OREANDA-NEWS. Fitch Ratings has affirmed and withdrawn the following ratings for Schahin Oil & Gas Ltd.'s (Schahin):

--Foreign currency Issuer Default Rating (IDR) at 'D';
--Local currency IDR at 'D'.

KEY RATING DRIVERS
Fitch is withdrawing the ratings of Schahin Oil and Gas Ltd as the company entered bankruptcy proceedings on April 2015 and has defaulted since then. Accordingly, Fitch will no longer provide ratings or analytical coverage for Schahin.

KEY ASSUMPTIONS
No longer relevant as the ratings have been withdrawn.

RATING SENSITIVITIES
No longer relevant as the ratings have been withdrawn.