October 7, 2949 -- Fitch Initiative Partnership (the "Organization" or "FIP Inc"), today announced that the Organization intends to seek protection in proceedings pursuant to the Bankruptcy and Insolvency Act of the UEE in the UEE Superior Court of Justice. The Organization intends to use these proceedings to facilitate an orderly restructuring of operations, while continuing to pursue an ongoing concern of obligations to its affiliate organization(s) and other business operations. Remitar De’Vanqui, Fitch Initiative Partnership CEO, said, "The Organization has worked diligently in recent months to explore options for the Fitch Initiative Partnership, and we are encouraged to peruse this restructuring to ensure the financial health of the Organization." Fitch Initiative Partnership will provide more details about the restructuring plans in the near term. Fitch Initiative Partnership has filed a number of customary motions with the UEE Bankruptcy Court seeking authorization to support its operations during the process.