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Fitch rates PrivatBank notes B
Fitch Ratings said it assigned UK SPV Credit Finance plc's $175 million issue of fixed-rate limited recourse notes a final long-term rating of B and a recovery rating of RR4.
The issue has a maturity date of Feb. 28, 2018 and a coupon rate of 10 7/8%.
The notes are to be used solely for financing a loan to PJSC CB PrivatBank.
The issue's long-term rating corresponds to PrivatBank's B/stable long-term foreign currency issuer default rating. The issue's recovery rating of RR4 reflects average recovery prospects for bondholders in case of default.
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