Fitch assigns UkrSibbank notes B-

Fitch Ratings said it assigned Bayerische Hypo- und Vereinsbank AG's (HVB) $125 million 8.95% limited recourse loan participation notes due July 2008 a final long-term B- rating.

The notes are to be used solely for financing a loan to JSIB UkrSibbank, rated long-term foreign currency B-/stable, short-term B, support 5, individual D/E, under a loan agreement, Fitch said.

HVB will only pay noteholders principal and interest, if any, received from UkrSibbank under the loan agreement, the agency added.

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