Global rating agency Fitch Ratings has upgraded long-term foreign currency Issuer Default Rating (IDR) of OJSC LSR Group (LSE: LSRG; MICEX, RTS: LSRG) to 'B' from ‘B-’. The Outlook is Stable. Fitch has also assigned senior unsecured rating of ‘B’ and its RUB 2.0bn bonds to be placed today, on 24 March 2011, an expected ‘B(exp)’ rating.