MOSCOW, Oct. 21 - Fitch Ratings has revised the Rating Watch on Ukraine-based OJSC Naftogaz's Long-term foreign and local currency Issuer Default ratings (IDRs) of 'RD' (Restricted Default) to Positive (RWP) from Rating Watch Evolving (RWE), the agency said in a press release.

Fitch has also placed Naftogaz's senior unsecured rating of 'C' on RWP. The Recovery Rating on the senior unsecured debt is RR4. The RWP follows confirmation from Naftogaz that bondholders voted in favor of the company's restructuring proposal at a meeting on Oct. 19, 2009.